REG - Fairview Intnl PLC - Unaudited Interim Results
25/03/2025 07:00
For best results when printing this announcement, please click on link below:
https://newsfile.refinitiv.com/getnewsfile/v1/story?guid=urn:newsml:reuters.com:20250325:nRSY9576Ba&default-theme=true
RNS Number : 9576B Fairview International PLC 25 March 2025
Fairview International PLC
("Fairview" or the "Company")
Unaudited Interim Results for the six-month period ended 31 December 2024
Fairview, the operator of international schools following the International
Baccalaureate curriculum, is pleased to provide its unaudited interim results
for the six-month period ended 31 December 2024 ("H1 2025") and provide an
update on year-to-date trading. Comparative data is provided for the six
months ended 31 December 2023 ("H1 2024"), unless otherwise stated.
Financial Highlights
· Revenue increased by 4.8%
· New student enrolments and applications already show a 4.4%
improvement on student numbers
Operational Highlights
· Increased effort in marketing showing early successes
· Continued financial assistance to students and their families through
bursaries and academic awards
· Fairview has been Malaysia's top-ranked International Baccalaureate
(IB) provider for five consecutive years (2020-2024)
· Fairview is also ranked among the top 3 per cent. of IB schools
worldwide, being recognised as a global top 100 IB school for the past five
years
Outlook
· Ongoing plans for organic growth by exploiting existing capacity and
further expansion by acquisition or new build schools
· Focus on Asia and the UK
Daniel Chian, Chairman of Fairview, said: "I am pleased to present our interim
results for the six months ended 31 December 2024, reflecting our first period
as a London Main Market listed company. The Group's half year results are
based on the continued hard work of the executive team, to whom considerable
thanks is due, the quality of our underlying operational systems and the
robustness of our business model. Thanks are also due to my fellow Board
members and to our business partners.
"We believe that our team has the skills and experience to adapt to the
challenges presented by global economic conditions and to continue to build
the business by capitalising on the opportunities that are expected to arise
through the rest of 2025 and beyond."
For further information, please contact:
Fairview International PLC
Daniel Chian, Chairman via focusIR
Website: www.fairviewplc.uk
focusIR
Kat Perez Tel: +44 (0) 7881 622 830
kat.perez@focusIR.com (mailto:kat.perez@focusIR.com)
Optiva Securities Limited
Vishal Balasingham Tel: +44 (0) 20 3137 1903
About Fairview International PLC
Fairview owns and operates two private independent schools in Malaysia that
offer the International Baccalaureate programme. One of these schools is
located in Kuala Lumpur, the capital of Malaysia, and the other is located in
the southern state of Johor close to the border with Singapore. These
schools trade under the Fairview brand which was founded in 1978, and were
subsequently acquired by Agodeus Sdn Bhd, a company owned by the Chian family,
in 2012.
There are three other schools in Malaysia and one in the United Kingdom that
also trade under the Fairview brand, which are under common control but
outside of the Company's group. All schools in the Fairview network are
individually recognised by the International Baccalaureate Organisation as
fully accredited to offer the IB programme across the primary and middle
years; ages 5 to 16, with Fairview Kuala Lumpur also offering the diploma
programme for 16 to 19 year olds. Each of the schools not owned by the
Company use the Fairview brand under licence from the Company accessing the
resources of the Fairview Network.
The school in Kuala Lumpur is the largest and flagship school that uses the
Fairview brand, whilst the school in Johor focuses on the expatriate market in
Singapore and so is internationally focused.
The Company plans to acquire more schools which can offer international
education including the International Baccalaureate programmes both in Asia
and the UK. The Company in particular believes there is an opportunity to
acquire underperforming private independent schools in the UK and adapt its
product offering to be authorised to offer the International Baccalaureate
programme. With a rise in popularity of the International Baccalaureate
programme in both the independent and state sector in the UK, with a growing
acceptance of International Baccalaureate graduates by UK universities, the
Directors believe that the Company's and Fairview Network schools will appeal
particularly to the ASEAN, Mainland China and Hong Kong market; particularly
families looking for an educational foundation in the UK prior to studying at
a UK university.
Website www.fairviewplc.uk (http://www.fairviewplc.uk/)
Social media https://x.com/fairviewplc (https://x.com/fairviewplc)
https://www.linkedin.com/company/fairview-international-plc/
(https://www.linkedin.com/company/fairview-international-plc/)
Interim results for the six-month period ended 31 December 2024
Chairman's report
I am pleased to present our inaugural interim results since joining the London
Stock Exchange last October.
One of our most significant KPIs is student numbers. The mid-year typically
sees a seasonal decline, often due to expatriate job relocation at the
calendar year end, and 2024 was no exception. We entered 2025 with 710
students enrolled across our two schools. However, this needs to be seen in
the context of the 31 enrolments and applications already received for the
coming year, representing a further 4.4 per cent. improvement with, we expect,
more to come as the new academic year approaches.
As I outlined in our operations and strategic update on 17 January 2025, this
early success in forthcoming enrolments and applications is particularly
pleasing given the increased resources we have put into marketing our schools
since our IPO. These initiatives are already bearing fruit.
Both of Fairview's schools have the ability to take on greater numbers of
students, with overall capacities of 1,500 and 750 in Kuala Lumpur and Johor
Bharu respectively. With the Group therefore only operating at around one
third of its maximum capacity, but nevertheless trading profitably, the
economies of scale that exist within our business model will be apparent to
our shareholders and underpins our plans for organic expansion.
Despite the seasonal impact on student numbers, we were nevertheless able to
increase revenues for the period by 4.8 per cent. to GBP2.78 million (2023:
£2.66 million) by successfully implementing a 7 per cent. increase in average
fees. We are mindful that Fairview offers very competitive education costs
alongside delivering a leading International Baccalaureate curriculum and this
competitive pricing model does provide us with opportunities to effect
increases in school fees in future financial years in line with cost
increases. Other international schools may not have that flexibility. It
is well publicised in the United Kingdom for example that schools are needing
to cut costs to balance the VAT and National Insurance burdens imposed on
them. Eventually cost cuts reach the school's facilities thereby,
potentially, impacting what they can deliver to their students. Fairview, in
contrast, is less impacted by such restrictions.
The success of our marketing programme naturally comes with an expense, and
the increase in our cost of sales in the period has been largely driven by the
additional travelling of our team to events both within and beyond Malaysia as
they seek to meet new families. Our schools are also supporting 28 students
on scholarships amounting to approximately £77,000 during the period and a
further 23 students who received an academic distinction award. The effect of
this added to our financial assistance costs which we reflect in our gross
profit calculation.
By their nature, schools have a long-term relationship with their customers -
namely families - and it has always been Fairview's policy to support and
reward our students. We are confident that these gestures are repaid both
through the ongoing loyalty of our customer base and the reputation this
affords us in the communities that we serve.
The combination of these higher costs reduced our gross margin in the period
to 50.3 per cent. (2023: 54.2 per cent.) but we anticipate a recovery in
future periods as our marketing programme continues to deliver higher student
numbers.
It is inevitable that this period's accounts would reflect the IPO and the
impact on our bottom line was mainly due to non-recurring administrative
expenses amounting to £609,544 in the period to 31 December 2024 relating to
the Company's IPO on 11 October 2024. In addition, one of the other
companies in the Fairview Network partially repaid loans in June 2024 as part
of the pre-IPO restructuring that we carried out. As a consequence, interest
received in the period was around a third of the corresponding period ended 31
December 2023 amounting to £126,000 (2023: £335,000). This is reflected in
the reduction in other operating income. Outside of these one-off
transactional costs, the Board continues to manage its budget tightly and the
Company benefits from resource sharing within the Fairview network.
We have presented our interim results on the basis of merger accounting with
our two subsidiary companies, Fairview Schools Berhad and Fairview
International School Nusajaya Sdn Bhd which operated our schools in Kuala
Lumpur and Johor Bharu respectively, joining the group on 1 July 2024.
Returning to how I began this review, the Company achieved a significant
milestone during the period with its shares being successfully admitted to the
London Stock Exchange's Main Market and commencing trading on 11 October 2024.
We are one of very few companies from Malaysia to achieve this feat and,
likewise, one of very few international school businesses to be quoted on a
global stock exchange. The exposure that this gives us, as well as the
validation of the quality of our management, should not be underestimated and
we expect in time this distinction will continue to attract families to our
schools.
As I explained in our operations and strategic update on 17 January 2025,
since completing our IPO, we have continued to assess opportunities to expand
our business, examining both acquisitions and new builds applying the criteria
of economic growth, demand for quality education and sustainability in their
assessments. As well as South-East Asia, and Asia generally, which holds a
number of attractions given the rising demand for international education, the
United Kingdom remains a core focus for us, reflecting both the positive
attitudes of Asian families to a British education and the growing interest in
the IB curriculum. The recent VAT and National Insurance changes on
independent schools is, as expected, producing numerous opportunities as
schools experience falling demand and higher costs in the new tax regime.
As I explained above, Fairview's cost-effective model and resource sharing
capabilities provides the resilience and growth potential to take advantage of
these opportunities.
The corporation tax rate in Malaysia is 24 per cent. with final tax
liabilities usually being determined in the financial year following
completion of the final tax return and audit. This can result in the
effective tax rate for the period differing from the headline rate. This is
the case in the period under review in which our one-off IPO costs have
reduced profits creating an apparently higher tax rate in the profit and loss
account. This is not reflective of future periods.
Cash balances as at 31 December 2024 were £1.05 million (2023: £0.94
million). Currency movements, IPO non -recurring transactional costs and the
Group reorganisation that was undertaken ahead of the IPO account for the most
significant cash movements during the period, none of which reflect the
underlying trading performance. The Company contributed £100,000 to
increase the paid up share capital in the Johor Bahru campus in compliance
with the Ministry of Education's requirements for foreign ownership.
The principal risks and uncertainties associated with the business and
operations of Fairview are set out in the prospectus of the Company dated 4
October 2024. The Directors believe that these risks and uncertainties remain
relevant to the business at the time of finalising these accounts for the six
months ended 31 December 2024. A copy of this prospectus is available on the
Company's website at www.fairviewplc.uk (http://www.fairviewplc.uk) .
Fairview International PLC
Condensed Consolidated Statement of Comprehensive Income
For the six months ended 31 December 2024
Six months Six months 12 months ended
ended ended
31 December 2024 31 December 2023 30 June 2024
Notes (Unaudited) £'000 (Unaudited) £'000 (Unaudited) £'000
Revenue 3 2,784 2,655 5,011
Cost of sales (1,382) (1,217) (2,616)
Gross profit 1,402 1,438 2,395
Other operating income 461 716 815
Administrative expenses (327) (424) (586)
Operating profit 1,536 1,730 2,624
Finance costs (382) (359) (727)
Profit on ordinary activities before taxation 1,154 1,371
1,897
Non-recurring reorganisation and IPO expenses 4 (609) - -
Profit before taxation 545 1,371 1,897
Income tax expense 5 (284) (226) (554)
Profit after taxation 261 1,145 1,343
Other comprehensive income - -
Total comprehensive income attributable to: -
The shareholders of the Company 225 - -
Non-controlling interest 36 -
-
261 - -
Pro-forma basic and diluted earnings per share attributable to the owners of
the Company (pence)
0.08 - -
Pro-forma basic and diluted earnings per share before Non-recurring IPO costs 0.28 - -
attributable to the owners of the Company (pence)
Fairview International PLC
Condensed Consolidated Statements of Financial Position
For the six months ended 31 December 2024
Notes 31 December 2024 31 December 2023 30 June 2024
(Unaudited) £'000 (Unaudited) £'000 (Unaudited) £'000
Non-Current assets
Property, plant and equipment 6 13,740 13,546
13,248
Right - of use assets 7 1,532 1,488 1,471
Intangible assets 8 175 236 207
Total non-current assets 15,447 15,270 14,926
Asset held for sales 7,133 6,855 6,812
Current assets
Inventories 9 87 77 58
Trade receivables 10 26 281 9
Other receivables 11 6,141 18,348 6,900
Cash and bank balances 12 1,054 939 1,081
Total current assets 7,308 19,645 8,048
Total Assets 29,888 41,770 29,786
Current liabilities
School fee deposit payables 1,378 2,105 1,919
Other payables 13 1,351 2,124 1,084
Bank borrowings (secured) 14 3,408 2,615 3,603
Unearned portion of school fees received 929 1,141 861
Tax liabilities 201 102 153
7,267 8,087 7,620
Non-Current liabilities
Deferred tax liabilities 2,100 2,027 2,005
Bank borrowings (secured) 14 8,427 7,616 8,609
Other payables 13 6,846 2,893 9,032
Total non-current liabilities 17,373 12,536 19,646
Equity
Share capital 15 5,560 684 680
Share premium 17 2,107 - -
Capital contribution (31) - 96
Exchange reserve 160 107 -
Minority interest (36) - -
Merger reserve (16,367) - -
Retained earnings 13,855 20,356 1,744
5,248 21,147 2,520
Total Equity and liabilities 29,888 41,770 29,786
Fairview International PLC
Condensed Consolidated Statement of Changes in Equity
For the six months ended 31 December 2024
Share Share premium Capital contribution Exchange reserve Minority interest Merger reserve Retained earnings Total equity
capital
£'000 £'000 £'000 £'000
Balance at 1 July 2023 677 - - 106 - - 19,061 19,844
Profit for the six months ended 31 December 2023 - - - - - - 1,145 1,145
Dividends paid - - - - - - (60) (60)
Foreign currency translation 7 - - 1 - - 210 218
Balance at 31 December 2023 684 - - 107 - - 20,356 21,147
Share Share premium Capital contribution Exchange reserve Minority interest Merger reserve Retained earnings Total equity
capital
£'000 £'000 £'000 £'000
Balance at 1 July 2024 5,560 2,107 (31) 161 - - 13,594 21,391
Profit for the six months ended 31 December 2024 - - - (36) - 261 225
Dividends paid - - - - - (16,367) - (16,367)
Merger deficit
Foreign currency translation - - - (1) - - - (1)
Balance at 31 December 2024 5,560 2,107 (31) 160 (36) (16,367) 13,855 5,248
Fairview International PLC
Condensed Consolidated Statement of Cash Flows
For the six months ended 31 December 2024
Six months ended Six Months ended 12 months ended
31 December 2024 31 December 2023 30 June 2024
(Unaudited) (Unaudited) £'000 (Unaudited) £'000
£'000
Cash flow from operating activities
Profit for the period before taxation 545 1,371 1,897
Adjustment for:
Amortisation of intangible asset 85 44 173
Depreciation of property, plant and equipment 106 218 322
Depreciation of right-of-use assets 9 8 16
Loss on disposal of property, plant and equipment - 7 7
Interest expenses - 359 725
Interest income - (362) (268)
Loss on foreign exchange - unrealised - 45 66
Operating cash flows before movements in working capital 745 1,690 2,938
(Increase)/Decrease in inventories (28) 17 36
Increase in trade receivables (17) (245) 31
Decrease/(Increase) in other receivables (446) (1,471) 9,903
Increase in trade payables - 593 243
Increase/(decrease) in other payables (1,257) (134) 5,563
Foreign currency translation - (20) -
Cash (absorbed in)/generated from operating activities (1,003) 430 18,714
Tax paid (107) (146) (437)
Net cash (absorbed in)/generated from operating activities (1,110) 284 18,277
Cash flows (for)/from investing activities
Proceeds from disposal of assets held for sale - 105 104
Proceed from disposal of property, plant and equipment - - 31
Purchase of property, plant and equipment (24) (8) (15)
Purchase of intangible assets (20) (20) (39)
Issue of share capital 265 - -
Issue of share premium 2,107 - -
Capital contribution - - 96
Interest income received - 335 268
Net cash generated from investing activities 2,328 412 445
Cash flows (for)/from financing activities
Drawdown of borrowings - 2,805 4,657
Dividend paid - (60) (18,858)
Repayment of bank borrowings (376) (2,942) (3,517)
Foreign exchange reserve 127 - -
Interest paid - (359) (725)
Net cash absorbed in financing activities (249) (556) (18,443)
Net increase in cash & cash equivalents 969 140 279
Cash and equivalent at beginning of period 1,083 799 799
Effect of foreign exchange translation (998) - 3
Cash and equivalent at end of period 1,054 939 1,081
Fairview International PLC
Notes to the Unaudited Interim Financial Statements
For the six months ended 31 December 2024
1. Basis of Preparation
The interim consolidated financial statements of Fairview International PLC
(the "Company") are unaudited condensed financial statements for the six
months ended 31 December 2024. These include unaudited comparatives for the
six months ended 31 December 2023, and the unaudited results for the year
ended 30 June 2024 which did not require a statutory audit. These interim
condensed financial statements have been prepared on the basis of merger
accounting and applying accounting policies expected to apply for the
financial year to 30 June 2025 based on the recognition and measurement
principles of United Kingdom adopted International Financial Reporting
Standards (IFRS), in accordance with the provisions of the Companies Act 2006,
applicable to companies reporting under IFRS.
The financial statements have been prepared under the historical cost
convention. The Group's presentation and functional currency is Sterling (£).
The interim financial statements do not include all of the information
required for full annual financial statements and do not comply with all the
disclosures in IAS 34 'Interim Financial Reporting' Accordingly, whilst the
interim statements have been prepared in accordance with IFRS, they cannot be
construed as being in full compliance with IFRS. The preparation of financial
statements in conformity with United Kingdom adopted International Financial
Reporting Standards (IFRS) requires the use of certain critical accounting
estimates. It also requires management to exercise its judgement in the
process of applying the Group's accounting policies. The accounting policies
adopted are consistent with those followed in the preparation of the Group's
annual financial statements of the Company's subsidiaries for the year ended
31 December 2023.
2. General information
The condensed consolidated unaudited financial information comprises the
financial information of the Fairview International PLC, Fairview Schools
Berhad and Fairview International School Nusajaya Sdn Bhd.
The principal activities of these entities in the Group are as follows: -
Name of company Country of incorporation Principal activities
Fairview International PLC United Kingdom The parent company of a trading group and provision of management services
Fairview Schools Berhad Malaysia Operation of an English - Medium Private International School following the
British education syllabus
Fairview International School Nusajaya Sdn Bhd Malaysia Operation of an English Medium private international school
There have been no significant changes in these activities during the relevant
financial periods.
3. Segmental reporting
IFRS 8 requires operating segments to be identified on the basis of internal
reports about components of the Group that are regularly reviewed by the chief
operating decision maker (which takes the form of the Board of Directors) as
defined in IFRS 8, in order to allocate resources to the segment and to assess
its performance.
Based on management information there is one operating segment. Revenues are
reviewed based on the services provided.
No customer has accounted for more than 10% of total revenue during the
periods presented.
4. Non recurring reorganisation and IPO expenses
Non recurring administrative expenses amounting to £609,544 in the six months
ended 31 December 2024 relates to the Company's IPO which completed on 11
October 2024.
5. Income Tax expense
The tax charge on profits assessable has been calculated at the rates of tax
prevailing, based on existing legislation, interpretation and practices in
respect thereof.
6. Property, plant and equipment
Fixture, fittings and equipment
31 December 2024 31 December 2023 30 June 2024
(Unaudited) (Unaudited) (unaudited)
£'000 £'000 £'000
Cost
Opening balance 19,020 19,361 19,361
Additional 32 8 15
Disposal - (446)
Foreign currency translation 897 214 91
Carried forward 19,949 19,583 19,021
Accumulated depreciation
Opening balance 5,772 5,755 5,755
Disposal - - (416)
Depreciation 106 218 407
Foreign currency translation 331 64 27
Carried forward 6,209 6,037 5,773
Net book value 13,740 13,546 13,248
7. Right-of-use assets
Right-of-use assets
31 December 2024 (Unaudited) 31 December 2023 (Unaudited) 30 June 2024 (Unaudited)
£'000 £'000 £'000
Cost
Opening balance 1,617 1,610 1,610
Additional - - -
Foreign exchange translation 77 16 7
Carried forward 1,694 1,626 1,617
Accumulated depreciation
Opening balance 146 129 130
Depreciation 9 8 16
Foreign exchange translation 7 1 -
Carried forward 162 138 146
Net book value 1,532 1,488 1,471
8. Intangible assets
Intangible assets
31 December 2024 31 December 2023 30 June 2024
(Unaudited) (Unaudited) (Unaudited)
£'000 £'000 £'000
Cost
Opening balance 676 636 636
Additional 8 20 38
Foreign currency translation 32 7 2
Carried forward 716 663 676
Accumulated depreciation
Opening balance 469 378 379
Depreciation 85 44 89
Foreign currency translation (13) 5 1
Carried forward 541 427 469
Net book value 175 236 207
9. Inventories
31 December 2024 31 December 2023 30 June 2024 (Unaudited)
(Unaudited) (Unaudited) £'000
£'000 £'000
Good for resale, at cost 87 77 58
10. Trade receivables
31 December 2024 31 December 2023 30 June 2024 (Unaudited)
(Unaudited) (Unaudited)
£'000 £'000 £'000
Not past due 26 281 9
11. Other receivables
31 December 2024 31 December 2023 30 June 2024
(Unaudited) (Unaudited) (Unaudited)
Current £'000 £'000 £'000
Sundry receivable 198 138 174
Deposits 130 128 123
Prepayments 148 70 149
Amount due from holding company - 2,490 -
Amount due from related parties 5,665 15,522 6,454
6,141 18,348 6,900
12. Cash and bank balances
31 December 2024 31 December 2023 30 June 2024
(Unaudited) (Unaudited) (Unaudited)
£'000 £'000 £'000
Deposits placed with licensed banks 97 93 92
Cash at banks balances 957 846 989
1,054 939 1,081
13. Other payables
31 December 2024 31 December 2023 30 June 2024
(Unaudited) (Unaudited) (Unaudited)
Current £'000 £'000 £'000
School fee deposits - 53 -
Advance billings - 55 -
Amount due to holding company - 140 -
Sundry payables 1,351 1,876 1,084
Total 1,351 2,124 1,084
Non-Current
School fee deposit 2,713 529 488
Amount owing to intercompany 4,133 - 8,544
Sundry payables - 2,364 -
6,846 2,893 9,032
14. Bank borrowings (secured)
31 December 2024 31 December 2023 30 June 2024
(Unaudited) (Unaudited) (Unaudited)
£'000 £'000 £'000
Term loan 9,144 7,996 9,232
Revolving credit 1,605 1,541 1,532
Bank overdraft 1,086 694 1,448
11,835 10,231 12,212
Current
Term loan 1,432 1,066 1,305
Revolving credit 890 855 850
Bank overdraft 1,086 694 1,448
3,408 2,615 3,603
Non-current
Term loan 7,712 686 682
Revolving credit 715 6,930 7,927
8,427 7,616 8,609
15. Called up share capital
Authorised Nominal value 31 December 2024 31 December 2023 30 June 2024
(Unaudited) (Unaudited) (Unaudited)
£'000 £'000 £'000
Ordinary £0.001 5,560 684 680
16. Basic and diluted earnings per share
The calculation of earnings per share is based on the following earnings and
number of shares.
31 December 2024 31 December 2023 30 June 2024
(Unaudited) (Unaudited) (Unaudited)
£'000 £'000 £'000
Weighted average number of ordinary shares for the purpose of basic and 294,055,315 N/A N/A
diluted profit per share
Earnings per share
Total comprehensive income attributable to the shareholders of the Company 225 N/A N/A
Pro-forma basic and diluted earnings per share 0.08 N/A N/A
attributable to the owners of the Company (pence)
EPS before non-recurring IPO costs
Total comprehensive income attributable to the shareholders of the Company 225 N/A N/A
609 N/A N/A
Add: Non-recurring IPO costs
Total comprehensive income (before Non-recurring IPO costs) attributable to 834 N/A N/A
the owners of the Company
0.28 N/A N/A
Pro-forma basic and diluted earnings per share before Non-recurring IPO costs
attributable to the owners of the Company (pence)
17. Share premium
31 December 2024 31 December 2023 30 June 2024
(Unaudited) (Unaudited) (Unaudited)
£'000 £'000 £'000
Opening balance - - -
Share issued 2,385 - -
Share issue costs 278 - -
Closing balance 2,107 - -
The share premium represents the amount received by the Company over and above
the nominal value of shares issued. This premium is recorded as a part of
equity under the 'Share Premium Account.' The share premium arises from the
issuance of shares at a price higher than their par or nominal value and is
used for purposes such as funding expansion, covering share issue costs, or as
required by statutory provisions. As of 31 December 2024, the balance in the
share premium account stands at £ 2,107,027.
18. Significant related party transactions
The Company received interest income in the six months to 31 December 2024 on
an advance made to related parties amounting to £126,533 (31 December 2023:
£334,920).
19. Subsequent events
There were no significant subsequent events following the end of the period
under review.
20. Responsibility Statement
The Directors are responsible for preparing the Interim Report in accordance
with the Disclosure and Transparency Rules of the United Kingdom's Financial
Conduct Authority ('DTR') and with International Accounting Standard 34 on
Interim Financial Reporting (IAS 34).
The Directors confirm that the interim financial statements have been prepared
in accordance with IAS 34 and that as required by DTR 4.2.7 and DTR 4.2.8, the
Interim Report includes a fair review of:
· important events that have occurred during the first six months of
the year;
· the impact of those events on the financial statements;
· a description of the principal risks and uncertainties for the
remaining six months of the financial year; and
· details of any related party transactions that have materially affected
the Company's financial position or performance in the six months ended 31
December 2024.
21. Half Year Report
A copy of this interim report is available on the Company's website at
www.fairviewplc.uk (http://www.fairviewplc.uk) .
Fairview International PLC
Company Information
DIRECTORS: Ngook For Chian (known as Daniel Chian) Executive Chairman
Lim Hun Soon (known as David Lim) Non-Executive Director
Jeffrey Raymond Beard Non-Executive Director
Maurice James Malcolm Groat Non-Executive Director
Robin Stevens Non-Executive Director
SECRETARY: MSP Secretaries Limited Company Secretary
Eastcastle House
27/28 Eastcastle Street
London W1W 8DH
REGISTERED OFFICE: Eastcastle House
27-28 Eastcastle Street
London W1W 8DH, United Kingdom
REGISTERED NUMBER: 15528502
CONTACT DETAILS: Tel: +44 208 523 2828
Email: info@fairviewplc.uk
This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact
rns@lseg.com (mailto:rns@lseg.com)
or visit
www.rns.com (http://www.rns.com/)
.
RNS may use your IP address to confirm compliance with the terms and conditions, to analyse how you engage with the information contained in this communication, and to share such analysis on an anonymised basis with others as part of our commercial services. For further information about how RNS and the London Stock Exchange use the personal data you provide us, please see our
Privacy Policy (https://www.lseg.com/privacy-and-cookie-policy)
. END IR SEMFULEISEEDRecent news on Fairview International
See all newsREG - Fairview Intnl PLC - Unaudited Interim Results
AnnouncementREG - Fairview Intnl PLC - New senior management appointments
AnnouncementREG - Fairview Intnl PLC - Operations and strategic update
AnnouncementREG - Fairview Intnl PLC - Pro forma results for the period to 30 June 2024
AnnouncementREG - Fairview Intnl PLC - Corporate Presentations
Announcement