Haldane McCall Plc
Haldane McCall Plc: Haldane McCall PLC announced 9-month results to 30/09/12
Haldane McCall Plc / Key word(s): Quarter Results/Miscellaneous 19.10.2012 / 09:00 --------------------------------------------------------------------- Press Release Haldane McCall PLC announced 9-month results to 30/09/12 Profit before tax of EUR 5.8 Million, an Increase of 93 % from the 9-month results of 2011 Douglas, Isle of Man, 19th October 2012 Haldane McCall PLC (Frankfurt: WKN A1J3U8, HMK1), a European Company investing in emerging markets Africa today reports its unaudited quarter three results for the nine months ended 30 September 2012. Results highlights Growth in revenue from African emerging markets fast growing operations and profitable company with strong and reliable earnings · Turnover increased to EUR18m ahead of the Q3 projections by EUR1.4m due mainly from phase 1 affordable homes sales and better hotels occupancy rates · Profit before tax increased to EUR5.8m ahead of the Q3 due mainly to one off profits from the sales of UK property holdings. An Increase of 93 % compared to the 9-month profit before tax of EUR 3 Million in 2011 . Net Assets up by EUR4m to EUR78.7m (31 December 2011: EUR74.7) · Cash balances dropt to EUR4.8m (31 December 2011: EUR6.7m) due to debts servicing, debts repayments and investments activities. · On track to deliver EUR1m of cost savings for the full year. · Phase 2 of affordable homes program of 1,000 new homes to commence in January 2013 with 10% sold off plan, · Steady demand for hotel rooms, Occupancy rates up 4.25% year on year due to the high season. . On track to outperform projections across the group for the full year. . Following EOAGM approved interim dividend payment of EUR0.0125 per share Ex June 2012. Payments of EUR 1,677m was remitted to shareholders during week commencing 8th October 2012 . The company plan to build a Leisure complex in Lagos for USD10m in the next 12months that will impact future revenue . A new 35 bedroom Suru Express Hotels opened in Lagos that will impact full year earnings . Following Board approval Prolific Micro Finance Bank will commence on lending to other bank at 2.5% per month fully secure commencing January 2013. . Appoints Peter Koch Bank as adviser for Frankfurt listing and Stuttgart listing following AGM approvals. Final Approval is imminent on its Prospectus to raise additional funds by public offer. ABOUT HMK Haldane McCall PLC is a European Company investing in emerging markets, primarily in Africa. HMK invests in real estate in the low cost housing segment in West Africa. The Group operates the Best Western hotel brand in West Africa. The Company owns Best Western hotels and controls several others via franchise licensing in Nigeria. HMK operates own Suru Express hotels in West Africa. HMK has dedicated subsidiaries for real estate (Suru Homes Ltd.) and dedicated financial services (Prolific Micro Finance Bank Ltd.) to provide a full package -from financing to sale- to the lower income population in Africa. In addition HMK invests in real estate and hotels in selected European metropolises. Please send enquiries to: info@haldanemccallplc.com or Visit our website: www.haldanemccallplc.com Safe Harbor Statement; The statements contained herein are forward-looking statements that are subject to risks and uncertainties that could cause actual results to differ materially from those expressed in the forward- looking statements, including, but not limited to, certain delays beyond the company's control with respect to market acceptance of new technologies or products, delays in testing and evaluation of products, and other risks detailed from time to time. End of Corporate News --------------------------------------------------------------------- 19.10.2012 Dissemination of a Corporate News, transmitted by DGAP - a company of EquityStory AG. The issuer is solely responsible for the content of this announcement. DGAP's Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases. Media archive at www.dgap-medientreff.de and www.dgap.de --------------------------------------------------------------------- 189294 19.10.2012
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