Business
Interim Report - Six months t
Interim Report - Six months t.
About this update from Thalassa Holdings Ltd
[{"type":"text","content":"\n RNS Number : 5429T Thalassa Holdings Limited 30 September 2010 \n\n \nThalassa Holdings Ltd\n \n(\"Thalassa\" or \"the Company)\n \nInterim Report - Six months to 30 June 2010\n \nThe Board of Thalassa Holdings Limited (AIM: THAL) is pleased to present the Company's latest Interim Report as follows:\n \n \nSummary and Chairman's Statement:\n \n· WGP wins seismic contract using Thalassa seismic equipment as reported on 11 June 2010 \no The Valhall contract is for 7 seismic-shoots over the Valhall field in the Norwegian section of the North Sea over a period of 3.5 years, with an option to extend for another two years\no The first seismic-shoot was successfully completed during September 2010\n \n· Realisation of a further $572,733 of gains from investments (including dividends and interest)\n \n· Total realised gains 2009 and 2010 half year $1.2 million ($651,162 in 2009, $572,733 in 2010 half year)\n \n· Private Investment portfolio performing better than management expectation \n \nOverview:\nIn the 2009 year end Statement I wrote:\n\"With the increased interest in our PMSS™ system and a tight rein on overheads, the continued performance in our publicly quoted investment portfolio should generate healthy returns, although I doubt these will be at the level witnessed during 2009.\" \n\"As mentioned, I remain cautious on the broader outlook for the financial markets and cannot make any forecasts as to the deployment of the PMSS™ at this time, other than to express guarded optimism.\"\nI am happy to report both statements have proven correct, the Company realised $572,733 of gains on investments in the first half of 2010 and also won its first operating contract. \n \nAs a result of maintained cost controls, the Company registered a Net Profit of $185,153 on Total Income of $572,733.\n \nWhilst any profit in the current market is a \"success\", I will not be happy until the Company begins to operate to its full potential.\n \nFinancial Review:\n \nGroup results for the six months to 30 June 2010 show a profit of US$185,153, in comparison to a profit of US$10,392 in the comparative six month period. Basic profit per share was US$0.03(£0.02) an...