Business
Interim Annual Financial Results
Interim Annual Financial Results.
About this update from Amigo Resources Plc
[{"type":"text","content":"\n\n02 May 2025\n \n \nAmigo Holdings PLC\nInterim Financial Results for the twelve months ended 31 March 2025\nAmigo Holdings PLC (\"Amigo\", \"PLC\" or the \"Company\"), a former UK provider of mid-cost credit now in run-off, announces its financial results for the twelve months ending 31 March 2025.\nKerry Penfold, CEO/ CFO, commented:\n\"The wind down of our legacy businesses is almost complete, having delivered £194m in cash redress and refunds to Scheme creditors. Mistakes of the past have cost Amigo and its shareholders dearly, but this chapter is now drawing to a close. We continue our search for a reverse takeover partner to enable the Company to continue in the longer term and bring some value to shareholders that would otherwise not be possible\" \nHeadlines:\n· Wind-down process: Amigo is nearing completion of the orderly wind down of its legacy lending business under the previously declared Fallback Scheme. We remain grateful to our staff for their continued commitment under very difficult circumstances.\n· Change of Accounting Reference Date: To preserve cash for creditors, Amigo announced the extension of its reporting period by six months to 30 September, and presents these interim results in line with its obligations under the UK Listing Rules.\n· Reverse Takeover: The Board continues to search for a suitable reverse takeover (\"RTO\") target to enable the Company to continue as a viable business in the long term.\nFinancial Headlines\n \n· Cash reduced by £136.1m in the twelve months to 31 March 2025, primarily due to redress payments under the Group's Scheme of Arrangement.\n· Overheads were down 67.4% as the Group continued its programme of redundancies and cost saving measures as part of orderly wind down of its legacy business.\n \nContact Information:\n· Nick Beal, Chief Restructuring Officer, Amigo\n· Sponsor - Beaumont Cornish &n...