Interim Results

RNS Number : 4694T

Shellshock Limited

06 December 2011

 



Shellshock Limited announces unaudited interim results for the 6 months ended 30 September 2011

Belize City, Belize, 6 December 2011 - Shellshock Limited (London-AIM: SHOK) ("Shellshock" or the "Company").

The Company was established in 2007 as a cash-shell entity.

It continues to 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.

Current economic and market conditions have made the search challenging, but the Board is confident that suitable investment opportunities will arise when market conditions improve.

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.

The Company reports a net profit of ₤23,000 for the six months ended 30 September 2011 (2010 - ₤28,000). Basic and diluted earnings per ordinary share for the six months ended 30 September 2011 amounted to 0.38 pence (2010 - 0.47 pence).

For further information contact:

Shellshock Limited                                       

Belize [phone]                                    

UK [phone]

Note: This and other press releases are available at the Company's web site: http://www.shellshocklimited.com. 

Shellshock Limited
Summarised income statement (unaudited)
Six months ended 30 September	2011	2010
	₤000	₤000
Interest income	56	60
Administrative expenses	(33)	(32)
Net profit before and after taxation	23	28
Earnings per ordinary share (basic and diluted) (in pence)	0.38	0.47

Shellshock Limited
Summarised balance sheet (unaudited)	30 September	31 March
	2011	2010
	₤000	₤000
Current assets
Cash and cash equivalents	3,032	3,001
Other receivables	6	19
Total assets	3,038	3,020
Current liabilities
Other payables	(10)	(15)
Net assets	3,028	3,005
Shareholders' equity
Share capital	3,000	3,000
Retained earnings	28	5
Total shareholders' equity	3,028	3,005
Shellshock Limited
Summarised statement of cash flows (unaudited)
Six months ended 30 September	2011	2010
	₤000	₤000
Net cash generated from operating activities	31	46
Net increase in cash for the period	31	46
Cash at beginning of period	3,001	2,941
Cash at end of period	3,032	2,987

-ENDS_

 

END

 

 

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