Business
Interim Results
Interim Results.
About this update from Volvere Plc
[{"type":"text","content":"\n \nRNS Number : 3604R Volvere PLC 21 September 2017 \n\n \n\n\n\n\n\n\n\n21 September 2017\n\n\n\n\n \n \n \nVolvere plc\n \n(\"Volvere\" or the \"Group\")\n \nInterim Results for the six months ended 30 June 2017\n \nVolvere plc (AIM: VLE), the growth and turnaround investment company, announces its unaudited Interim Results for the six months ended 30 June 2017.\n \nHighlights\n \n\n\n\n\n£ million except where stated\n\n\nSix months ended\n\n\nYear ended\n\n\n\n\n\n\n\n30 June\n2017\n\n\n30 June\n2016\n \n\n\n31 December\n2016\n\n\n\n\nGroup revenue from continuing businesses\n\n\n18.5\n\n\n14.5\n\n\n33.0\n\n\n\n\n \nGroup profit before tax from continuing operations\n\n\n \n0.76\n\n\n \n0.25\n\n\n \n1.98\n\n\n\n\n \n\n\n\n\n\n\n\nAs at\n30 June 2017\n\n\nAs at\n30 June 2016\n\n\nAs at 31\nDecember 2016\n\n\n\n\nConsolidated net assets per share\n(excluding non-controlling interests)(1)\n\n\n \n£6.23\n\n\n \n£5.76\n\n\n \n£6.17\n\n\n\n\nGroup net assets\n\n\n26.9\n\n\n24.7\n\n\n26.6\n\n\n\n\nCash and marketable securities\n\n\n20.5\n\n\n18.5\n\n\n20.0\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n \n· Impetus Automotive delivered a very strong performance. Profit before tax and intra-group management and interest charges(2) of £1.54 million (30 June 2016: £0.52 million) on revenue of £12.16 million (30 June 2016: £8.16 million). Profit before tax was £1.37 million (30 June 2016: profit £0.34 million) - with the difference being intra-group management and interest charges.\n \n· Shire Foods' performance was satisfactory and in line with expectations. Loss before tax and intra-group management and interest charges(2) of £0.24 million (30 June 2016: profit £0.13 million) on revenue of £6.28 million (30 June 2016: £6.19 million). Loss before tax was £0.25 million (30 June 2016: profit £0.1 million) - with the difference being intra-group management and interest charges.\n \n· Net assets per share growth continued, reaching new record high.\n \n· Balance sheet remains strong with high liquidity. Cash and marketable securities increased over prior comparable period by £2.0 million, t...