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Ford Eagle Group Ltd (FEGP)

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Tuesday 25 September, 2012

Ford Eagle Group Ltd

Half-yearly Report


                                                              25 September 2012

                           Ford Eagle Group Limited                            

                        ("Ford Eagle" or the "Company")                        

             Interim Results for the six months ended 30 June 2012             

Ford Eagle Group Limited is pleased to announce its interim results for the six
months ended 30 June 2012.

Chairman's Statement

I am pleased to present the unaudited interim results for the six months ended
30 June 2012 and to report on recent developments.

Results

The Company reports a loss for the six month period of £54,000 (2011: £143,000)
or 1.6p (2011: 4.5p) per share. This loss is significantly reduced compared
with 2011. The company has been successful in generating increased revenues of
£37k (2011: £13k) and implementing cost savings measures which reduced
administrative costs to £91k (2011: £363k).

Review of Operations

During the period, Ford Eagle continued to provide consulting services to
existing and new clients interested in listing their shares on various stock
exchanges, particularly those in London. Sectors in which the Company is
currently active include commercial property, food and beverage management ,
mining, forestry and etc.

Post Balance Sheet Events

Recently, the Company successfully assisted a client in listing one of their
businesses on the UK AIM Market. The benefits of this activity will be
reflected in the next financial reporting period.

The Company shares, in additional to being traded on the PLUS Market were
admitted to trading on the GXG MTF Stock Exchange on 4 July 2012. We believe
that GXG Markets offer a more transparent trading model with prices set by the
last traded price rather than by a market maker.

Outlook

I am pleased to report that the Company's overall strategic development is
proceeding well. The Company is being presented with new and interesting
possibilities. As its reputation gradually becomes established in the PRC, the
Board expects the size and quality of our earnings to increase commensurately.

I expect the Company will continue to capture consulting services opportunities
from the development of the corporate finance industry in China and Hong Kong.
The Board intends to strengthening its management team and exploring new
business opportunities, as well as continuously and proactively strengthening
its corporate governance so as to establish a solid foundation for future
growth. The Company is also considering expanding its consulting services into
management of commercial properties and retailing in China.



Consolidated Statement of Comprehensive Income
Six months ended 30 June 2012

                                            6 months     6 months         Year
                                               ended        ended     ended 31
                                             30 June      30 June     December
                                                2012         2011         2011
                                                                              
                                               £'000        £'000        £'000
                                                                              
Revenue                                           37           13           43
                                                                              
Other income                                       -            -            3
                                                                              
Gross profit                                      37           13           46
                                                                              
Administrative expenses                         (91)        (155)        (363)
                                                                              
Loss from operations                            (54)        (143)        (317)
                                                                              
Finance costs                                      -            -          (1)
                                                                              
Loss before taxation                            (54)        (143)        (318)
                                                                              
Taxation                                           -            -            -
                                                                              
Loss for the period attributable to equity      (54)        (143)        (318)
holders                                                                       
                                                                              
Loss per share                                                                
                                                                              
Basic and diluted (pence)                        1.6          4.5          9.9



Consolidated Balance Sheet
As at 30 June 2012

                                              30 June       30 June          31
                                                 2012          2011    December
                                                                           2011
                                                                               
Assets                                          £'000         £'000       £'000
                                                                               
Non-current assets                                                             
                                                                               
Property, plant and equipment                      19            44          19
                                                                               
Investments                                        96             -           -
                                                                               
                                                  115            44          19
                                                                               
Current assets                                                                 
                                                                               
Trade and other receivables                        40            13           5
                                                                               
Cash and cash equivalents                           5            88          29
                                                                               
                                                   45           101          34
                                                                               
Total assets                                      160           145          53
                                                                               
                                                                               
Equity and liabilities                                                         
                                                                               
Equity attributable to owners of the parent                                    
                                                                               
Called up share capital                           384           321         321
                                                                               
Share premium                                     179           147         147
                                                                               
Foreign currency translation reserve                -             -           4
                                                                               
Retained earnings                               (786)         (594)       (768)
                                                                               
Total equity                                    (223)         (126)       (296)
                                                                               
Liabilities                                                                    
                                                                               
Non-current liabilities                                                        
                                                                               
Borrowings                                        344           207         305
                                                                               
Current liabilities                                                            
                                                                               
Trade and other payables                           39            64          44
                                                                               
Financial liabilities - borrowings                  -             -           -
                                                                               
                                                   39            64          44
                                                                               
Total liabilities                                 383           271         349
                                                                               
Total equity and liabilities                      160           145          53

The financial information set out above has not been reviewed or audited by the
company's auditors.

Basic and diluted loss per share is calculated by dividing the loss for the
period of £54,000 (2011 £143,000) by the weighted average number of ordinary
shares of 3,472,625(2011: 3,205,500).

The Directors of the Company accept responsibility for the content of this
announcement.

For further information on this announcement please contact:

Ford Eagle Group Ltd
Tony Drury, Non-Executive Chairman
+ 44 -79737 37284 (UK)

Jack Law, Executive Director
+ 44 7766 566 068 (UK)
+ 852 9683 6228 (HK)

Alexander David Securities Limited - Corporate Adviser
David Scott
+44 20 7448 9800

a d v e r t i s e m e n t