Business
Preliminary Results
Preliminary Results.
About this update from Blue Star Capital Plc
[{"type":"text","content":"\n Blue Star Capital plc\n28 March 2008\n\n\n28 March 2008\n\n BLUE STAR CAPITAL PLC\n ('Blue Star' or 'the Company')\n\n Preliminary Results for the Year ended 30 September 2007\n\nBlue Star Capital plc (AIM: BLU), the Company created to provide seed capital\nfor early stage companies, presents its preliminary results for the period ended\n30 September 2007.\n\n\nHighlights\n\n •Financial turnaround - announces profit for the financial year of\n £135,730 (£851,716 loss 2006)\n\n •Balance sheet remains strong and strengthening - net assets of \n £4.2 million (£4.1 million 2006)\n\n •Significant positive activity by all portfolio companies\n\n\nNigel Robertson, Blue Star's Chairman, said:\n\n'Our investment strategy based on delivering good capital growth is beginning to\nshow results. We have reported a financial turnaround in our profitability and\nour portfolio companies are showing real growth potential. I am confident that\nour investee companies will continue to thrive over the next year.'\n\n\n\n\nFor further information:\n\nBlue Star Capital plc Tel: 020 7297 0010\nNigel Robertson, Chairman\nHaresh Kanabar, Chief Executive\n\nLandsbanki Securities (UK) Limited Tel: 020 7426 9000\nMark Dickenson\nSindre Ottesen\n\nSquare1 Consulting Limited Tel: 020 7929 5599\nDavid Bick\nMark Longson\n\n\n\n\n\n\nEXTRACTS FROM THE CHAIRMAN'S STATEMENT AND THE REPORT OF THE DIRECTORS\n\nI am pleased to report Blue Star's results for the year ended 30 September 2007.\nThese results reflect further progress made by the Company as evidenced by a\nturnaround in our financial performance. We are reporting a profit for the\nfinancial year.\n\nIt is the Company's strategic objective to create a diverse portfolio of\ninvestments from which it hopes to see appreciation in value and thereby provide\nreturns to shareholders. Blue Star's investments have been made across a variety\nof sectors, including property, oil and gas, social networking, pest control and\ne-marketing.\n\nI am pleased to report that there has been significant activity within our\nportfolio companies during the period under review. I have set out below a brief\nreview of each of the investee companies.\n\n\nZENERGY POWER Plc\n\nZenergy Power, listed on AIM (AIM: ZEN) is a global specialist manufacturer and\ndeveloper of commercial applications for superconductive materi...