Half Year Results to 30 April 2026
Prior to publication, the information contained within this announcement was deemed by the Company to constitute inside information for the purposes of Article 7 of EU Regulation 596/2014 (which forms part of domestic UK law pursuant to the European Union (Withdrawal) Act 2018). With the publication of this announcement, this information is now considered to be in the public domain.
29 July 2026
Everest Global plc
("Everest" or the "Company")
Unaudited interim results for the six months ended 30 April 2026
The Board of Everest is pleased to announce its unaudited results for the six months ended 30 April 2026.
Chief Executive Officer's report
I present the unaudited interim results of Everest Global Plc ("Everest" or the "Company") for the six-month period ended 30 April 2026. This has been a period of significant strategic investment, balance sheet repositioning, and operational development as we lay the groundwork for the next phase of the Company's evolution. Our core retail operations have continued to trade, and the Board has been actively progressing a number of material growth initiatives which I describe below. The financial results for the period reflect a step forward to increase our revenues which will help to cover the future costs of being a listed company. The costs have increased whilst building a platform, and the Board is satisfied that the foundations now in place provide a credible basis for the delivery of shareholder value over the medium term.
Financial Review
The financial results for the period reflect a business that is growing and looking at future opportunities for revenue growth. The Board is realistic about where we are on the path to long term profitability, we are confident that we are on the right path. At the same time, the funding position has been materially strengthened, working capital has been deployed into inventory and receivables ahead of anticipated revenue expansion, and the Group enters the second half of the year with a meaningful cash position. The key metrics are reviewed below.
· Revenue: Group revenue for the period was £561,169 (H1 2025: £270,251), representing a year-on-year increase of 108%. The Board acknowledges that revenue growth is strong in the current period and the increase is mainly due to the inclusion of revenue from Ace Jumbo Ventures Ltd, in which we increased our interest from 33% to 100% during the period. The annualised revenue run-rate of approximately c£1m compares to full-year FY2025 revenue of £566,755. Delivering genuine top-line growth - through additional retail locations, expanded distribution channels, and new product lines - remains the primary commercial imperative for the second half of the year.
· Gross Profit and Operating Performance: Gross profit for the period was £351,030 (H1 2025: £86,983), representing a gross margin of approximately 62.6%. The year-on-year increase in gross profit reflects the shift in sales mix. Administrative expenses increased significantly to £732,828 for the period (H1 2025: £312,929), an increase of £419,899 or 134%. Administrative expenses represent a percentage of revenue of 131% compared to H1 2025 of 116%, it is the Board's opinion this was expected given the growth of revenue and we will look to bring this down as revenues grow. This uplift reflects the additional people, professional adviser, and regulatory costs associated with the Group's expansion and corporate development activities. The Board considers a meaningful proportion of these costs to be non-recurring or investment in nature, but shareholders should be aware that, at current revenue levels, the overhead base is not sustainable without either material revenue growth or continued external funding. The operating loss for the period was £380,773 (H1 2025: £220,446), and the loss before tax was £552,981 (H1 2025: £75,617 profit), reflecting net finance costs of £172,208 after £8,815 of finance income (H1 2025: net finance income of £296,063 driven by treasury returns that are not expected to recur at that scale). The swing from profit to loss compared to the prior interim period is primarily attributable to the combination of higher administrative expenditure and the absence of the exceptional finance income that benefited the prior period.
· Balance Sheet Position: Total assets at 30 April 2026 were £3,641,804 (31 October 2025: £2,417,503), an increase of £1,224,301 over the period. This growth is concentrated in current assets: inventories increased materially to £535,166 (October 2025: £53,533) reflecting a significant build in stock ahead of anticipated trading volume, and trade and other receivables rose to £686,643 (October 2025: £529,328). Cash and cash equivalents stood at £1,410,371 (October 2025: £1,063,463), maintained at a healthy level following the £1.5 million CLN drawdown in the period. The Group's non-current assets of £1,009,624 include goodwill of £948,386 (following the £379,127 impairment recognised in the full year FY2025 accounts), right-of-use assets of £148,168 and property, plant and equipment of £60,963. On the liabilities side, the Group carries total convertible loan note obligations of £4,184,059 in non-current liabilities, with the maturity extension agreed in February 2026 having reclassified the majority of the CLN book to long-dated. Total equity at the period end was a deficit of £1,537,495 (October 2025: deficit of £971,464), reflecting the accumulated losses of £6,942,164. The Board is cognisant that the equity deficit position is a constraint that will need to be addressed, and that the path to a positive net asset position requires a combination of profitable trading and, potentially, further equity capital. The Surich SPC remains the Group's principal funding partner, with aggregate CLN principal outstanding of £3.25 million plus approximately £165,000 of additional advances.
· Strategic investments: During the period under review, the Company took full financial control of Ace Jumbo Ventures Ltd and its wholly owned subsidiaries Giga (Hong Kong) Ltd and Everest (Hong Kong) Securities Limited. Historically the companies were accounted for as associates. Despite the purchase consideration (US$60,000) not yet being paid the Company now has full control of the entities and as such they are being consolidated effective 1 November 2025. As announced previously on 9 April 2024, the purpose of the Company's investment was to help facilitate future fundraisings to be undertaken by the Company from investors based in Hong Kong. As and when the Company requires further capital it will do so using the licences held of Giga (Hong Kong) Limited - the provision of advice on securities (Type 4 Licence) and a licence to carry out asset management related regulated activities (Type 9 Licence) under the Securities and Futures Ordinance in Hong Kong. Although the business generates operating income as well as interest income, the directors do not see material changes in the level of income over the short term. The results for the period therefore encompass the 6 months of trading of both of these companies.
Operational Review
Our flagship London retail store, which commenced operations in January 2025, traded through the full six-month period and contributed positively at the gross profit level. The store's performance has validated the operational model and demonstrated the viability of a premium bricks-and-mortar retail format in the London market. However, the Board acknowledges that a single retail location generating revenues of approximately £268,000 per half-year is not of itself sufficient to carry the current cost structure of a listed company. The strategic value of this operation lies in its role as a proof-of-concept for a broader rollout, and the Board is actively working to bring additional revenue-generating operations online.
The Group has extended its product portfolio during the period, adding premium cigar distribution and cigar lounge operations alongside the existing premium beverage retail business. The significant inventory build to £535,166 at period end - up from £53,533 at October 2025 - reflects stocking ahead of anticipated trading activity across these expanded categories. The Board is monitoring sell-through rates and working capital efficiency carefully, as the carrying cost of elevated inventory levels must be matched by corresponding revenue generation in the second half of the year. Key performance metrics including like-for-like sales growth, gross margin by category, and inventory turnover are reviewed at each Board meeting.
Funding and Capital Structure
The Board has prioritised putting in place a funding structure that provides sufficient runway to execute on the Group's strategic ambitions while managing the near-term cash demands of a business operating at a loss.
· New Convertible Loan Note Issuance: During the period, the Company issued £1.5 million of new CLNs, the proceeds of which have been deployed into working capital and the inventory build described above. The Group closed the period with cash of £1,183,364, which the Board considers adequate to support operations and the pursuit of near-term growth initiatives. Shareholders should note that the net cash inflow from financing activities of £1,496,854 was the principal driver of the period's cash position, and that operating activities consumed £1,367,411 in cash - a reflection of both the operating loss and the significant working capital investment made during the period.
· CLN Maturity Extension: In February 2026, the Company agreed an extension of the maturity date of £552,163 of existing CLNs to 31 March 2028. This amendment removes near-term repayment pressure and is a constructive outcome for the Group's liquidity management. The total CLN book, predominantly held by Surich Real Estate Opportunity Fund SPC, now stands at £4,184,059 in the non-current liabilities, with maturity profiles extended to avoid short-term concentration risk.
· Finance Costs and Income: Finance costs in the period were £181,023, reflecting the interest charge on the substantial CLN book. Finance income of £8,800 was generated from treasury management of the Group's cash resources. The Board draws shareholders' attention to the contrast with H1 2025, when finance income of £431,935 was recognised. That prior-period income was materially enhanced by treasury returns that were exceptional in nature; the current period's finance income of £8,800 is a more representative underlying figure. The net finance cost of £172,223 in the period is a material drag on profitability and underscores the importance of growing the revenue base to generate returns commensurate with the cost of the Group's capital.
Outlook
The Board's focus for the remainder of the 2026 fiscal year is to transition the Group from a platform-building phase into one of demonstrable revenue growth and, ultimately, improving profitability. We are pursuing a number of initiatives in parallel, and I set out below the areas where the Board's attention is most concentrated.
Retail Expansion: The Group is actively reviewing opportunities to open additional premium retail locations in London, with a focus on sites that complement the existing store and can benefit from shared procurement, brand positioning, and operational infrastructure. The Board's intention is to identify and progress at least one further location during the current financial year, subject to securing appropriate terms and funding.
Cigar Lounge and Distribution: The integration of cigar distribution and lounge operations into the Group's product ecosystem is at an early stage but shows genuine commercial promise. The Board sees this as a natural adjacency to the premium beverage business, targeting the same high-net-worth consumer demographic and offering attractive margins. Further investment in this vertical is under active consideration.
Acquisition Pipeline: The Board continues to review potential acquisition opportunities in the premium food, beverage, and lifestyle sectors across the UK and continental Europe. Our criteria focus on businesses that are earnings-accretive, operationally compatible with the existing platform, and available at valuations that represent fair value to shareholders. Shareholders should note that any transaction of sufficient scale would require separate shareholder approval and, potentially, re-admission to the Official List under the FCA's Listing Rules.
Cost Discipline: The Board has begun a review of the Group's administrative cost base with a view to identifying expenditure that is not directly linked to revenue growth or regulatory compliance. While some of the cost increase in the period is investment-related and we expect it to diminish as a proportion of revenue over time, the Board is not complacent about the absolute level of overhead, and will take action to reduce costs where this can be achieved without compromising the Group's strategic objectives.
Wealth management: As has previously been disclosed, the wholly owned subsidiaries based in Hong Kong are performing an important role in finding future liquidity and funding for acquisitions while undertaking their primary business of performing wealth management and asset management. We see this as a side effect of the need to obtain funds for future acquisitions and not the primary business in which the group finds itself. We do not expect a marked change in their current operations in the short term and expect a neutral contribution to the Group over the short term.
The Board is under no illusion that there is material work still to be done to deliver a business that is profitable and self-sustaining. The results for this period reflect the costs of building for the future, and the Board is confident that the strategic direction is the right one. However, we recognise that confidence must be validated by results, and we are focused on delivering demonstrable progress in the months ahead. I thank our shareholders for their patience and continued support, and our team for their considerable efforts during a demanding period of development.
Xin (Andy) Sui
Chief Executive Officer
The unaudited interim report for the 6 months ended 30 April 2026 is available on the Company's website at: www.everestglobalplc.com and in hard copy form at the Company's registered office at The Broadgate Tower, 20 Primrose Street, London, EC2A 2EW
It will also shortly be available for inspection at: www.fca.org.uk/markets/primary-markets/regulatory-disclosures/national-storage-mechanism.
For further information please contact:
Everest Global plc
Andy Sui, Chief Executive Officer
Rob Scott, Non-Executive Director
+44 (0) 776 775 1787
+27 (0)84 6006 001
SPARK Advisory Partners Limited (Financial Adviser)
Andrew Emmott
+44 (0) 20 3368 3550
Caution regarding forward looking statements
Certain statements in this announcement, are, or may be deemed to be, forward looking statements. Forward looking statements are identified by their use of terms and phrases such as ''believe'', ''could'', "should" ''envisage'', ''estimate'', ''intend'', ''may'', ''plan'', ''potentially'', "expect", ''will'' or the negative of those, variations or comparable expressions, including references to assumptions. These forward-looking statements are not based on historical facts but rather on the Directors' current expectations and assumptions regarding the Company's future growth, results of operations, performance, future capital and other expenditures (including the amount, nature and sources of funding thereof), competitive advantages, business prospects and opportunities. Such forward looking statements reflect the Directors' current beliefs and assumptions and are based on information currently available to the Directors.
Principal risks and uncertainties for the remaining 6 months of the financial year
The Directors consider the following risk factors to be of relevance to the Group's activities for the remaining 6 months of the financial year. It should be noted that the list is not exhaustive and that other risk factors not presently known or currently deemed immaterial may apply.
Risk Management Approach: The Company continually identifies, assesses, and prioritises risks affecting its goals. Internal controls are designed to mitigate, transfer, or avoid exposures, and the Directors periodically evaluate their efficiency against changing market dynamics.
i. Funding & Acquisition Capital Limits
The Company intends to seek further expansion opportunities within the beverage distribution and production sectors in the UK and continental Europe. While targets have not been formally finalised, additional capital will be required to execute future investments, and predicting the exact funding volume remains conditional on market opportunities.
ii. Ownership and Reverse Takeover ("RTO") Compliance
If a substantial transaction was undertaken, this may constitute a Reverse Takeover under the FCA's Listing Rules. In an RTO event, the Company will seek re-admission to the FCA's Official List and must comply with prevailing minimum market capitalisation threshold of £30,000,000. Failure to fulfil structural eligibility would require alternative target identification or transition to secondary public/private trading options.
iii. Supply Chain Continuity
The beverage and premium product infrastructure relies heavily on prompt logistical execution and consistent transport parameters. Weather anomalies, labour shortages, and international sourcing disruptions present continuous volatility risks that could affect local execution lines.
iv. Product Quality and Brand Integrity
Maintaining consistent quality standards remains essential to secure retail customer loyalty. Discrepancies in product portfolios heavily impact downstream retail footprints and overall customer goodwill.
v. Evolving Consumer Preferences
Success remains tied to adjusting brand investment metrics to mirror changing consumer behaviour trends, health priorities, and dietary transformations. Failure to adapt lines dynamically minimizes overall commercial velocity.
vi. Competitive Landscape
The premium food, beverage, and lifestyle sectors remain highly competitive with structurally dynamic entry barriers. Established operators and agile localized brands demand constant market differentiation.
The Company continually identifies the risks that could affect its goals and operations. It assesses the likelihood and impact of each risk and prioritises them accordingly.
Internal controls are designed and implemented to mitigate or reduce the risks, or transfer or avoid them if possible. The Directors monitor and evaluate the effectiveness and efficiency of the internal controls and identify any gaps or weaknesses as well as review and update the internal controls periodically, or when there are significant changes in the business environment or objectives.
Responsibility statement
The Directors, being Xin (Andy) Sui (Chief Executive Officer), Robert Scott (Non-Executive Director), Simon Grant-Rennick (Non-Executive Director) and Feng Chen (Non-Executive Director), all of 7th Floor The Broadgate Tower, 20 Primrose Street, London, EC2A 2EW, accept responsibility for the information contained in this set of interim results for the six-month period ended 30 April 2026.
To the best of the knowledge of the Directors:
· The condensed set of financial statements are prepared in accordance with the applicable set of accounting standards (with IAS 34 'Interim Financial Reporting' as contained in UK-adopted IFRS), give a true and fair view of the assets, liabilities, financial position, comprehensive income and operational performance of Everest Global Plc and the undertakings included in the consolidation taken as a whole;
· The interim management report, titled 'Chief Executive Officer's report' includes an indication of important events that have occurred during the first six months of the financial year, and their impact on the condensed set of financial statements, and a description of the principal risks and uncertainties for the remaining six months of the financial year; and
· For the six-month period ended 30 April 2026, the directors include a fair review of the information required as part of the FCA's Disclosure Guidance and Transparency Rules under section 4.2.7 and 4.2.8:
o an indication of important events that have occurred during the first six months and their impact on the condensed set of financial statements, and a description of the principal risks and uncertainties for the remaining six months of the financial year; and
o material related-party transactions in the first six months and any material changes in the related-party transactions described in the last annual report.
Everest Global plc acknowledges that it is responsible for all information drawn up and made public in this set of interim results for the period ended 30 April 2026.
Signed on behalf of the board of directors
Xin (Andy) Sui
Chief Executive Officer
Interim condensed consolidated statement of comprehensive income
6 months ended
Year ended
6 months ended
30 April
31 October
30 April
2026
2025
2025
(unaudited)
(audited)
(unaudited)
Notes
£
£
£
Revenue
3
561,169
566,755
270,251
Cost of sales
(210,139)
(395,393)
(183,268)
Gross profit
351,030
171,362
86,983
Other income
1,025
11,491
5,500
Administrative expenses
(732,828)
(888,813)
(312,929)
Impairment
-
(379,127)
-
Operating loss
(380,773)
(1,085,087)
(220,446)
Finance costs
(181,023)
(223,517)
(135,872)
Finance income
8,815
203,325
431,935
Profit/(loss) before tax from continuing operations
(552,981)
(1,105,279)
75,617
Tax on profit/(loss) on ordinary activities
-
-
-
Profit/(loss) for the year from all operations
(552,981)
(1,105,279)
75,617
Profit attributable to ordinary shareholders
(552,981)
(1,105,279)
75,617
Exchange differences on translating foreign operations
(33,958)
33,958
-
Total comprehensive profit attributable to ordinary shareholders
(586,939)
(1,071,321)
75,617
Basic earnings per share - in pence
5
(0.71)
(1.43)
0.10
Diluted earnings per share - in pence
5
(0.71)
(1.43)
0.10
Interim condensed consolidated statement of financial position
6 months ended
Year ended
6 months ended
30 April
31 October
30 April
2026
2025
2025
(unaudited)
(audited)
(unaudited)
Notes
£
£
£
Assets
Non-current assets
Goodwill
948,386
527,500
879,127
Bargain price
(147,893)
-
-
Investment in associates
6
-
16,465
16,465
Property, plant & equipment
7
60,963
61,299
-
Right of use asset
9
148,168
165,915
35,297
Total non-current assets
1,009,624
771,179
930,889
Current assets
Inventories
535,166
53,533
56,546
Trade & other receivables
686,643
529,328
3,729,684
Cash & cash equivalents
1,410,371
1,063,463
19,121
Total current assets
2,632,180
1,646,324
3,805,351
Total assets
3,641,804
2,417,503
4,736,240
Equity & liabilities
Share capital
8
1,547,778
1,547,778
1,547,778
Share premium
8
3,752,967
3,752,967
3,752,967
Share based payment reserve
-
-
464,734
Foreign exchange reserve
-
33,958
-
Equity portion of convertible loan notes
103,924
83,016
83,016
Retained earnings
(6,942,164)
(6,389,183)
(5,673,021)
Total equity
(1,537,495)
(971,464)
175,474
Non-current liabilities
Non-current lease liabilities
9
136,558
155,788
25,614
Borrowings
-
39,404
-
Convertible loan notes
4,184,059
2,537,520
3,948,418
Total non-current liabilities
4,320,617
2,732,712
3,974,032
Current liabilities
Current lease liabilities
9
38,320
30,965
17,668
Borrowings
252,506
164,871
24,889
Trade & other payables
567,856
460,419
544,177
Total current liabilities
858,682
656,255
586,734
Total equity and liabilities
3,641,804
2,417,503
4,736,240
Interim condensed consolidated statement of changes in equity
Share
capital
Share Premium
Share based payment reserve
Share based payment reserve
Equity portion of convertible loan notes
Retained earnings
Total owner's equity
£
£
£
£
£
£
£
Balance at 31 October 2024
1,547,778
3,752,967
464,734
-
79,531
(5,748,638)
96,372
New convertible loan notes issued
-
-
-
-
3,485
-
3,485
Profit for the period
-
-
-
-
-
75,617
75,617
Balance at 30 April 2025
1,547,778
3,752,967
464,734
-
83,016
(5,673,021)
175,474
Convertible loan note changes
3,485
3,485
Expiry of share warrants
(464,734)
464,734
-
Total comprehensive income for the year
33,958
(1,071,321)
(1,071,321)
Balance at 31 October 2025
1,547,778
3,752,967
-
33,958
83,016
(6,389,183)
(971,464)
New convertible loan notes issued
20,908
-
20,908
Total comprehensive income for the period
-
-
-
(33,958)
-
(552,981)
(586,939)
Balance at 30 April 2026
1,547,778
3,752,967
-
-
103,924
(6,942,164)
(1,537,495)
Interim condensed consolidated statement of cash flows
6 months ended
Year ended
6 months ended
30 April
31 October
30 April
2026
2025
2025
(unaudited)
(audited)
(unaudited)
Notes
£
£
£
Cashflows from operating activities
Operating loss
(380,773)
(1,085,087)
(220,446)
Adjusted for:
Depreciation
23,379
25,134
7,060
Foreign exchange movements
25,103
23,905
-
Impairment of goodwill
-
379,127
-
Interest received
2,548
-
-
Changes in working capital
(Increase)/decrease in inventories
(481,633)
(14,280)
(17,293)
(Increase)/decrease in receivables
(563,217)
(85,873)
(424,516)
(Decrease)/increase in payables
(114,179)
54,071
(567)
Net cashflow from operating activities
(1,488,772)
(703,003)
(655,762)
Investing activities
Acquisition of PPE and intangibles
-
(90,000)
-
Purchase of subsidiary
(30,437)
-
-
(Decrease)/increase in related party loans
394,366
(391,644)
-
Net cashflow from investing activities
363,929
(481,644)
-
Financing activities
Treasury function
-
3,033,649
-
Net movement in convertible loan notes
1,500,000
(1,228,730)
250,000
Increase/(decrease) in borrowings
48,231
178,330
158,881
Foreign exchange movements
(32,180)
33,958
-
Capital repayments of lease liability
(19,197)
(24,917)
(10,998)
Net cashflow from financing activities
1,496,854
1,992,290
397,883
Net cashflow for the period
372,011
807,643
(257,879)
Opening cash and cash equivalents
1,063,463
279,725
279,725
Foreign exchange movements
(25,103)
(23,905)
(2,725)
Closing cash and cash equivalents
1,410,371
1,063,463
19,121
Notes to the interim condensed consolidated financial statements
1. General information
Everest Global Plc (the 'Company') is a public limited company and is incorporated in England and Wales (Registration number 07913053) and domiciled in England. These condensed financial statements for the six months ended 30 April 2026 comprise the Company and its subsidiaries (the 'Group'). The principal activity of the Group has not changed since 31 October 2025 year-end accounts were prepared. As such the principal activity at the date of the period end (30 April 2026) was investing and trading in off-licence premises within the South-East region of England. The address of its registered office is 7th Floor The Broadgate Tower, 20 Primrose Street, London, EC2A 2EW.
These condensed interim financial statements do not comprise statutory accounts within the meaning of section 434 of the Companies Act 2006. The most recent statutory accounts prepared were for the year ended 31 October 2025 and approved by the board of directors on 26 February 2026 and delivered to the Registrar of Companies. The report of the auditors on those financial statements was unqualified.
The Company is admitted to the FCA'S Official List equity shares (transition category) and to trading on the London Stock Exchange's Main Market for listed securities. The information within these financial statements and accompanying notes has been prepared for the period ended 30 April 2026 with comparatives for the year ended 31 October 2025 and 30 April 2025.
2. Basis of preparation and significant accounting policies
The condensed consolidated interim financial statements of the Group have been prepared in accordance with the UK-adopted International Accounting Standard 34, 'Interim Financial Reporting'. As contained in International Financial Reporting Standards as adopted by the United Kingdom ('IFRS as adopted by the UK').
The condensed consolidated interim financial statements of the Group were approved by the Board and authorised for issue on 28 July 2026.
The basis of preparation and accounting policies set out in the Annual Report and Accounts for the year ended 31 October 2025 have been applied in the preparation of these condensed consolidated interim financial statements. These interim financial statements have been prepared in accordance with the recognition and measurement principles of the International Financial Reporting Standards ('IFRS') as endorsed by the UK that are expected to be applicable to the consolidated financial statements for the year ending 31 October 2026 and on the basis of the accounting policies expected to be used in those financial statements.
The figures for the six months ended 30 April 2026 and 30 April 2025 are unaudited and do not constitute full accounts. The comparative figures for the year ended 31 October 2025 are extracts from the 2025 audited accounts. The independent auditor's report on the 2025 accounts was unqualified. These financial statements are not audited and therefore no audit report has been issued for these interim accounts.
This had a number of changes, the profit and loss now includes the profit from discontinued operations. This has removed all DI components in individual lines and combined into the single line of profit from discontinued operations.
The retained earnings for the Group have changed as a result of this change to the accounting for the assignment of the loan.
Segmental reporting
The Group operates in one segment and one geographical region as follows:
6 months ended
Year ended
6 months ended
30 April
31 October
30 April
2026
2025
2025
(unaudited)
(audited)
(unaudited)
£
£
£
Geographical revenue:
United Kingdom
264,563
566,755
270,251
Hong Kong
296,606
-
-
561,169
566,755
270,251
Segmental revenue:
Alcohol retail market
264,563
566,755
270,251
Asset management
296,606
-
-
561,169
566,755
270,251
3. Company results for the period
The Company has elected to take the exemption under section 408 of the Companies Act 2006 not to present the parent Company income statement account.
The operating loss of the Group for the six-month period ended 30 April 2026 was £380,773 (30 April 2025: £220,446 and year ended 31 October 2025: £1,085,087). The operating loss incorporated the following main items:
6 months ended
Year ended
6 months ended
30 April
31 October
30 April
2026
2025
2025
(unaudited)
(audited)
(unaudited)
£
£
£
Auditors' remuneration for audit services
-
90,000
-
Under provision of prior year audit fee
8,000
2,506
-
Legal and professional fees
12,400
179,873
28,701
Brokership fees
34,918
26,262
13,096
Personnel expenses
423,004
340,719
181,354
Registrar and stock exchange fees
7,858
6,341
19,806
Depreciation on IFRS right of use asset
17,747
23,933
7,060
Other administrative expenses
228,901
219,179
62,912
Total administrative expenses
732,828
888,813
312,929
4. Earnings per share
Earnings per share data is based on the Group result for the six months and the weighted average number of ordinary shares in issue.
Basic profit per share is calculated by dividing the profit/(loss) attributable to equity shareholders by the weighted average number of Ordinary Shares in issue during the period:
6 months ended
Year ended
6 months ended
30 April
31 October
30 April
2026
2025
2025
(unaudited)
(audited)
(unaudited)
As restated
£
£
£
Profit/(loss) attributable to ordinary shareholders
(552,981)
(1,105,279)
75,617
Weighted average number of shares in issue
77,388,855
77,388,855
77,388,855
Basic earnings per share (pence)
(0.71)
(1.43)
0.10
Diluted earnings per share (pence)
(0.71)
(1.43)
0.10
As at 30 April 2026 there were 77,388,855 Ordinary Shares and no share warrants outstanding. As at 30 April 2025 there were 77,388,855 Ordinary Shares and no share warrants outstanding.
5. Investments
6 months ended
Year ended
6 months ended
30 April
31 October
30 April
2026
2025
2025
(unaudited)
(audited)
(unaudited)
Investment in subsidiary
£
£
£
Everest Capital London Ltd
200,000
200,000
200,000
Everest (Hong Kong) Securities Limited
945,519
943,741
-
Ace Jumbo Ventures Ltd
46,902
-
-
Giga (Hong Kong) Ltd
300,390
-
-
N20 Nine Limited
100
100
-
Precious Link (UK) Ltd ('PL')
315,804
315,804
315,804
Carrying value
1,808,715
1,459,645
515,804
6 months ended
Year ended
6 months ended
30 April
31 October
30 April
2026
2025
2025
(unaudited)
(audited)
(unaudited)
Investment in associate
£
£
£
Ace Jumbo Ventures Ltd
-
16,465
16,465
Carrying value
-
16,465
16,465
As at 30 April 2026, the Company directly and indirectly held the following investments:
Name of company
Principal activities
Country of incorporation and place of business
Proportion of equity interest
30 April 2026
Proportion of equity interest
30 April 2025
Precious Link (UK) Ltd
Retail sales of alcoholic beverages
United Kingdom
100.00%
100.00%
Everest (Hong Kong) Securities Limited
Type 4 and 9 licence holders
Hong Kong
100.00%
100.00%
Everest Capital London Ltd
Treasury
United Kingdom
100.00%
100.00%
N20 Nine Ltd
Retail sales of alcohol and tobacco
United Kingdom
100.00%
100.00%
Ace Jumbo Ventures Ltd
Intermediary holding company
Republic of
Seychelles
100.00%
33.33%
Giga (Hong Kong) Ltd
Securities advice and asset management services
Hong Kong
100.00%
-
During the period, the Company took effective control of Ace Jumbo Ventures Limited and accordingly has accounted for the remaining 66.67% of Ace Jumbo Ventures Ltd. The consideration is £30,437, but this has not yet been paid. As a result of the accounting, the Company has now accounted for 100% of the share capital in Ace Jumbo Ventures Ltd, and its wholly owned subsidiaries Giga (Hong Kong) Limited and Everest (Hong Kong) Securities Limited.
6. Property, plant & equipment
Depreciation on property, plant and equipment is calculated using the straight-line method to write off their cost over their estimated useful lives at the following annual rates:
Furniture and fixtures
10% and 25%
Leasehold improvements
33%
Plant and equipment
20% and 33%
Useful lives and depreciation method are reviewed and adjusted if appropriate, at the end of each reporting period.
An item of property, plant and equipment is derecognised upon disposal or when no future economic benefits are expected to arise from the continued use of the asset. Any gain or loss arising on the disposal or retirement of an item of property, plant and equipment is determined as the difference between the sales proceeds and the carrying amount of the relevant asset and is recognised in profit or loss in the year in which the asset is derecognised.
Leasehold improvements
Furniture, fixtures and fittings
Office and computer equipment
Total
Group
£
£
£
£
Cost
As at 31 October 2024
-
1,209
-
1,209
Additions
-
-
-
-
As at 30 April 2025
-
1,209
-
1,209
Additions
7,500
55,000
-
62,500
As at 31 October 2025
7,500
56,209
-
63,709
Purchase of subsidiary
-
-
8,832
8,832
As at 30 April 2026
7,500
56,209
8,832
72,541
Accumulated depreciation
As at 31 October 2024
-
1,209
-
1,209
Charge in the period
-
-
-
-
As at 30 April 2025
-
1,209
-
1,209
Charge in the period
-
1,201
-
1,201
As at 31 October 2025
-
2,410
-
2,410
Purchase of subsidiary
-
-
3,536
3,536
Charge in the year
982
3,574
1,076
5,632
As at 30 April 2026
982
5,984
4,612
11,578
Net book value
As at 30 April 2025
-
-
-
-
As at 31 October 2025
7,500
53,799
-
61,299
As at 30 April 2026
6,518
50,225
4,220
60,963
The Company held no tangible fixed assets at 30 April 2026, 31 October 2025 nor 30 April 2025.
Share capital and share premium
Number of shares
Nominal
valueShare
premiumTotal
£
£
£
Balance at 31 October 2024
77,388,855
1,547,778
3,752,967
5,300,745
Balance at 30 April 2025 & 31 October 2025
77,388,855
1,547,778
3,752,967
5,300,745
Balance at 30 April 2026
77,388,855
1,547,778
3,752,967
5,300,745
Share capital is the amount subscribed for shares at nominal value.
Retained losses represent the cumulative loss of the Group attributable to equity shareholders.
Share-based payments reserve relates to the charge for share-based payments in accordance with IFRS 2.
7. Leases
Right of use asset and lease liability
6 months ended
Year ended
6 months ended
30 April
31 October
30 April
2026
2025
2025
(unaudited)
(audited)
(unaudited)
£
£
£
Operating lease commitments disclosed
186,753
51,695
51,695
Interest payments
7,322
12,484
2,585
Lease payments
(19,197)
(24,917)
(10,998)
Assignment of lease
-
74,319
-
New lease entered
-
73,172
-
Lease liability recognised in the statement of financial position
174,878
186,753
43,282
Of which:
Current lease liabilities
38,320
30,965
17,668
Non-current lease liabilities
136,558
155,788
25,614
174,878
186,753
43,282
Right-of use assets were measured at the amount equal to the lease liability, adjusted by the amount of any prepaid or accrued lease payments relating to that lease recognised in the statement of financial position as at 30 April 2026. There were no onerous lease contracts that would have required an adjustment to the right of-use assets at the date of initial application. The recognised right of-use assets relate to the following types of assets:
6 months ended
Year ended
6 months ended
30 April
31 October
30 April
2026
2025
2025
(unaudited)
(audited)
(unaudited)
£
£
£
Properties
148,168
165,915
43,282
148,168
165,915
43,282
8. Subsequent events
Subsequent to the period ended 30 April 2026, there were no material items to report.
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