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IRW-Press: Haldane McCall PLC Generates A Provisional Profit Of EUR 2.35 Million In The First Half Of 2014



Published on 18 August 2014



by Press Office

(IRW-PRESS and WireNews)

Vienna, Austria


Haldane McCall PLC (Wien: WKN A1J3U8, HMK1), a European company investing in emerging markets in Africa generates a provisional profit of EUR 2.35 million after tax in the first half of 2013.

Results of the first half of 2014 in detail:

- Turnover: EUR 10.719 million

- Provisional profit before tax: EUR 2.827 million

- Provisional profit after tax: EUR 2.346 million

- Assets: EUR 121.442 million

- Liabilities: EUR 35.312 million

- Net assets after the deduction of all liabilities: EUR 86.130 million

- Retained earnings: EUR 13.968 million

Total assets for the Group grow by 5% from Euro 81.9m for the first half year 2013 to Euro 86.1m for the six months ended 30 June 2014

Group PBT for the period of Euro 2.82m represents 2% increase on PBT of Euro 2.78m achieved for half year 2014

Group operating profit for the half year 2014 was Euro 7.5m an increase of 3% from corresponding period 2013

Group turnover fell by 4.4% to Euro 10.7m from corresponding period 2013 due mainly to drop in Hotels occupancy rates

The Group will be completing its reits program in the coming weeks, Assets valued at Euro 38m willl be flip into the reits. This will impact full year results as follows:

- Declining full year revenue

- Declining total assets

- Borrowing will be fully settle

- Increase Group Liquidity

Overall , we remain focused on achieving our medium term objectives to develop new homes , hotels and cut borrowings. We expect steeper growth rate for the coming years as our turnaround strategies take firmer root.

Upon successful completion of Reits program we start with the corporate restructuring with the aim of founding a German AG.

More company updates will follow shortly.

About HMK1

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 a Best Western hotel Franchise in West Africa. The Company owns Best Western hotel, Ikeja. HMK operates own Suru Express hotels in West Africa. HMK has dedicated subsidiaries for real estate (Suru Homes Ltd.) In addition HMK invests in real estate and hotels in selected European metropolises.

Please send enquiries to: info@haldanemccall.com

Visit our website: http://www.haldanemccall.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.

Contact:

Haldane McCall PLC

12, Mount Havelock Douglas, Isle of Man, 1MI 2QG - Telephone: +44 (0) 162 461 8444 - Fax: +44 (0) 162 461 8555 - Website: http://www.haldanemccall.com - Email: info@haldanemccall.com.

 


Contacts

  •  
  • Joachim Brunner
  • IRW-Press
  • PR Contact
  • Tel: +43724221193011
  •  
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Posted 2014-08-18 09:28:00