31 December 2025
Silverwood Brands plc
("Silverwood" or the "Company"; together with its subsidiaries, the "Group)
Delay to Publication of Audited Results
Silverwood Brands plc (AQSE: SLWD), a holding company established to invest primarily in branded consumer businesses, announces that there has been a delay in completing the audit of the Group's results for the 18 month period ended 30 June 2025.
The delay arises from the additional time required to complete the audit of the Group's Japanese subsidiaries. This has been necessitated by the technically complex translation of subsidiary financial statements from Japanese Generally Accepted Accounting Principles ("Japanese GAAP") to International Financial Reporting Standards ("IFRS").
While the Group has previously audited and consolidated its Japanese subsidiaries, the Sonotas companies, the acquisition of Cosme Science during the period introduced additional complexity to the current audit.
Temporary Suspension
Accordingly, as the Company will be unable to publish audited results by 31 December 2025 as required by Rule 4.3 of the Aquis Growth Market Access Rulebook, trading in the Company's ordinary shares will be temporarily suspended with effect from 08.00 on Friday, 2 January 2026.
Unaudited Financial Information
For information purposes, limited unaudited financial information relating to the Group for the 18 month period ended 30 June 2025 is set out below.
This information has been extracted from the Company's draft report and accounts for the period ended 30 June 2025 and has not been audited. A further announcement will be released by the Company on completion of the audit and any material changes between the financial information set out below and the audited financial information will be disclosed in that announcement.
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CONSOLIDATED STATEMENT OF FINANCIAL POSITION |
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30 June 2025 |
31 December 2023 |
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Assets |
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Non-Current Assets |
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Property, Plant and Equipment |
9,151,299 |
199,306 |
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Intangible Assets |
18,266,219 |
23,594,130 |
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Other Non-Current Investments |
- |
80 |
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Trade and Other Receivables |
- |
- |
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27,417,518 |
23,793,516 |
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Current Assets |
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Trade and Other Receivables |
3,131,898 |
3,394,016 |
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Inventories |
2,493,049 |
1,727,768 |
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Cash and Cash Equivalents |
3,070,441 |
2,799,449 |
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|
8,695,388 |
7,921,233 |
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Total Assets |
36,112,906 |
31,714,749 |
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Liabilities |
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Non-Current Liabilities |
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Trade and Other Liabilities |
878,334 |
1,996,367 |
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Loans and Borrowings |
7,588,104 |
1,264,449 |
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Deferred Tax Liability |
3,309,767 |
1,799,191 |
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11,776,205 |
5,060,007 |
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Current Liabilities |
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Trade and Other Liabilities |
2,672,370 |
6,097,606 |
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Loans and Borrowings |
3,170,656 |
5,368,149 |
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Provisions |
398,970 |
286,282 |
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6,241,996 |
11,752,037 |
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Total Liabilities |
18,018,201 |
16,812,044 |
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Net Assets |
18,094,705 |
14,902,705 |
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Issued capital and reserves attributable to owners of the parent |
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Share Capital |
4,250,018 |
3,250,018 |
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Share Premium |
27,195,826 |
22,795,826 |
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Shares to be Issued |
378,969 |
831,450 |
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Reverse Takeover Reserve |
(2,014,193) |
(4,797,432) |
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Shared Based Payments Reserve |
4,377,444 |
6,110,807 |
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Foreign Exchange Reserve |
(508,956) |
(421,716) |
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Retained Earnings |
(15,533,691) |
(12,815,536) |
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|
18,145,417 |
14,953,417 |
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Non-Controlling Interests |
(50,712) |
(50,712) |
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Total Equity |
18,094,705 |
14,902,705 |
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CONSOLIDATED STATEMENT OF PROFIT OR LOSS AND OTHER COMPREHENSIVE INCOME |
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18 Months Ended 30 June 2025 |
As Restated: 12 Months Ended 31 December 2023 |
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Revenue |
23,912,606 |
11,094,983 |
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Cost of Sales |
(10,177,871) |
(1,680,895) |
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Gross Profit |
13,734,735 |
9,414,088 |
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Other Operating Income |
24,479 |
26,799 |
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Selling and Distribution |
(1,723,467) |
(1,112,392) |
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Administrative Expenses |
(12,312,817) |
(8,756,008) |
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EBITDA |
(277,070) |
(427,513) |
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Depreciation |
(3,510,103) |
(1,308,793) |
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Exceptional Costs |
(4,159,939) |
(219,644) |
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Fair Value Movements |
668,283 |
- |
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Acquisition costs, acquisition related contingent considerations and earn-outs |
4,262,631 |
(3,842,615) |
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Profit/(Loss) from Operations |
(3,016,198) |
(5,798,565) |
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Finance Income |
43,498 |
41,649 |
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Finance Expense |
(1,111,406) |
(805,786) |
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Profit/(Loss) Before Tax |
(4,084,106) |
(6,562,702) |
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Tax Expense |
57,499 |
471,528 |
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Profit/(Loss) for the period |
(4,026,607) |
(6,091,174) |
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Items that are or may be reclassified subsequently to profit or loss. |
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Exchange Loss Arising on Translation on Foreign Operations |
(87,240) |
(421,716) |
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|
(87,240) |
(421,716) |
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Other Comprehensive Income for the Period, Net of Tax |
(87,240) |
(421,716) |
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Total Comprehensive Income |
(4,113,847) |
(6,512,890) |
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Loss for the period attributable to: |
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Owners of the Parent |
(4,026,607) |
(6,040,462) |
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Non-Controlling Interests |
- |
(50,712) |
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(4,026,607) |
(6,091,174) |
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Total comprehensive income for the period attributable to: |
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Owners of the Parent |
(4,113,847) |
(6,462,178) |
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Non-Controlling Interests |
- |
(50,712) |
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(4,113,847) |
(6,512,890) |
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ENDS
For more information, please contact:
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Silverwood Brands plc |
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Andrew Gerrie |
info@silverwoodbrands.com |
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Paul Hodgins |
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AlbR Capital Limited - Aquis Corporate Adviser |
+44 (0)20 7469 0930 |
About Silverwood Brands plc
Silverwood Brands plc is a leader in the health and beauty industry, committed to developing and marketing high-quality products that meet the diverse needs of consumers worldwide. Through strategic acquisitions and organic growth, Silverwood Brands continues to enhance its portfolio and global reach, ensuring a strong position in the competitive health and beauty market.