Update regarding the Accounts and Trading Update

Webis Holdings

27/11/2020 12:04

RNS Number : 7848G

Webis Holdings PLC

27 November 2020

 

27 November 2020

Webis Holdings plc

("Webis" or the "Company")

Delay in publication of the Annual Report and Consolidated Financial Statements for the year ended 31 May 2020 and Trading Update

The board of Webis hereby notifies shareholders that the completion of the audit of the accounts for the Company, for the year ended 31 May 2020 (the "Accounts") are delayed due to a Covid-19 related issue.  Unfortunately, one of the Company's US bankers is suffering from a considerable backlog as a result of the pandemic and is unlikely to be able to provide the verification required to complete the audit by 30 November 2020. The Board is confident that the verification is merely a matter of procedure only and will occasion no change to the Accounts which are anticipated to contain an unqualified audit report. Accordingly, the Company has agreed with AIM an extension to 28 February 2021 for the publication deadline of its Accounts. Every effort is being made to complete the Accounts as soon as possible and they will be published via RNS thereafter.

Meanwhile, the board of Webis provides the following unaudited trading update for the year-ended 31 May 2020: -

 

 

Consolidated Statement of Comprehensive Income

For the year ended 31 May 2020

2020
US$000
2019
US$000
Amounts wagered
105,325
136,353
Turnover
43,436
47,259
Cost of sales
(38,820)
(42,625)
Betting duty paid
(83)
(146)
Gross profit
4,533
4,488
Operating costs
(4,908)
(5,277)
Impairment loss on trade receivables
(18)
(67)
Re-organisational and other costs
(28)
(54)
Other losses
(29)
(166)
Government grant
48
-
Other income
212
187
Operating loss
(190)
(889)
Finance costs
(94)
(41)
Loss before income tax
(284)
(930)
Income tax expense
-
-
Loss for the year
(284)
(930)
Other comprehensive income:
Items that may be subsequently reclassified to profit or loss:
Currency translation differences on disposal of foreign subsidiaries
-
-
Other comprehensive income for the year
-
-
Total comprehensive income for the year
(284)
(930)
Basic earnings per share for loss attributable to the equity holders of the Company during the year (cents)
(0.07)
(0.24)
Diluted earnings per share for loss attributable to the equity holders of the Company during the year (cents)
(0.07)
(0.23)


 

Statements of Financial Position

As at 31 May 2020

31.05.20
Group
US$000
31.05.20
Company
US$000
31.05.19
Group
US$000
31.05.19
Company
US$000
Non-current assets
Intangible assets
30
-
104
7
Property, equipment and motor vehicles
415
7
26
10
Investments
-
2
-
3
Bonds and deposits
101
-
101
-
Total non-current assets
546
9
231
20
Current assets
Bonds and deposits
882
-
882
-
Trade and other receivables
1,256
463
1,191
427
Cash and cash equivalents
3,969
1,780
2,594
1,416
Total current assets
6,107
2,243
4,667
1,843
Total assets
6,653
2,252
4,898
1,863
Equity
Called up share capital
6,334
6,334
6,334
6,334
Share option reserve
42
42
42
42
Retained losses
(5,508)
(5,526)
(5,224)
(5,412)
Total equity
868
850
1,152
964
Current liabilities
Trade and other payables
3,749
52
2,896
49
Deferred income
272
-
-
-
Loans, borrowings and lease liabilities
97
-
-
-
Total current liabilities
4,118
52
2,896
49
Non-current liabilities
Loans, borrowings and lease liabilities
1,667
1,350
850
850
Total non-current liabilities
1,667
1,350
850
850
Total liabilities
5,785
1,402
3,746
899
Total equity and liabilities
6,653
2,252
4,898
1,863

 

 

This announcement contains inside information for the purposes of Article 7 of EU Regulation No. 596/2014 on market abuse. Upon the publication of this announcement via a Regulatory Information Service, this inside information is now considered to be in the public domain.

 

For further information: -

Webis Holdings plc
Beaumont Cornish Limited
Denham Eke
Tel: +44 (0) 1624 639396
Roland Cornish/James Biddle
Tel: +44 (0) 20 7628 3396

 

 

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