Final Results

RNS Number : 9741S

Shellshock Limited

30 September 2014

 



Shellshock Limited announces results for the year ended 31 March 2014

Belize City, Belize, 30 September 2014 - Shellshock Limited (London-AIM: SHOK) ("Shellshock" or the "Company") reported a net profit of UK£15,000 for the year ended 31 March 2014 (2013 - UK£63,000). Basic and diluted earnings per ordinary share for the year ended 31 March 2014 amounted to 0.25 pence (2013 - 1.05 pence).

The Company continues its search for investment opportunities in line with its stated strategy which includes possible investment in either one or more quoted or unquoted businesses that may have been set up by entrepreneurs with good strategic plans and need financial backing and the support of the experienced Shellshock management team.

The search for investment opportunities remains challenging given the current market and economic conditions; but the Board remains confident that suitable opportunities will arise.

The Board notes that, as of the date of this announcement, the shares of Shellshock trade on AIM at an approximate 20% discount to the Company's net asset value.

Further details are set out on the Company's web site.

For further information contact:

Shellshock Limited                                      

Belize [phone]                                    

UK [phone]

Web: www.shellshocklimited.com  

Cenkos Securities plc

Nicholas Wells [phone]

Statement of comprehensive income

Year ended 31 March		2014	2013
		UK₤000	UK₤000
Administrative expenses		(66)	(64)
Operating loss		(66)	(64)
Financial income		81	127
Profit before taxation		15	63
Taxation		-	-
Net profit for the year		15	63
Earnings per ordinary share
Basic and diluted (pence)		0.25	1.05

Balance sheet

At 31 March		2014	2013
		UK₤000	UK₤000
Assets
Current assets
Cash and cash equivalents		3,128	3,114
Other receivables		25	23
		3,153	3,137
Liabilities
Current liabilities
Other payables		(21)	(20)
Net current assets		3,132	3,117
Net assets		3,132	3,117
Shareholders' equity
Called up share capital		3,000	3,000
Retained earnings		132	117
Total shareholders' equity		3,132	3,117

Statement of cash flows

Year ended 31 March		2014	2013
		UK₤000	UK₤000
Cash flows from operating activities
Cash used in operations		(67)	(65)
Financial income		81	127
Net cash generated from operating activities		14	62
Net increase in cash and cash equivalents		14	62
Cash and cash equivalents at beginning of year		3,114	3,052
Cash and cash equivalents at end of year		3,128	3,114

Copies of the Company's financial statements for the year ended 31 March 2014 have today been sent to shareholders and are also available to view on the Company's website at www.shellshocklimited.com. 

-ENDS-

 

END

 

 

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