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On 21 January 2019, Imperial Pacific Limited (ASX:IPC) has provided the groupâs preliminary unaudited results for the six months ended December 2018. The company prepared the preliminary unaudited results and passed on to Cutcher & Neale for their audit review.
Imperial Pacific Limited is under the finance sector. The company is a strategic investor who provides productive management inputs to companies in which it possesses equity interests. The company owns 31% stake in London City equities limited.
In the announcement, it is mentioned that the company is expected to report the revenue amounting to $57,000, in the six months ending 31 December 2018(over the prior year which was $63,000). The company had stated that that the company is expected to report the net loss after tax amounting to $93,000 (over the prior year which was -$20,000).
The company had also given the information on the balance sheet numbers of Imperial Pacific. It is expected that the company will post a net asset amounting to $2.98 million at the end of December 2018, while at the end of December 2017, the company had net assets of $3.97 million. The company had stated that the company is expected to report the total assets amounting to $3.33 million at the end of December 2018, while at the end of December 2017, the company had total assets of $4.14 million. The company is also anticipating that they might see a fall in the investment portfolio. It is expected that the company will post an investment portfolio amounting to $2.95 million at the end of December 2018, while at the end of December 2017, the company had an investment portfolio of $3.69 million.
The company has also mentioned the reason for fall in the investment portfolio. The primary reason is that the companyâs key investment, London City Equities has seen its portfolio fall in market value. This happened due to the serious adverse reports on the behavior of some financial services companies.
The company had stated that it has reported liabilities amounting to -$0.35 million at the end of December 2018, while at the end of December 2017, the company had total liabilities of -$0.174 million.
On 30 November 2018, Imperial Pacific Limited had announced a change in its registered office and business address. The new address is Suite 212, Level 2, 111 Harrington Street, The Rocks NSW 2000. However, the companyâs telephone number and PO Box mailing address remain unchanged. The companyâs telephone number is 02 9247 9315, and mailing address is PO Box R1414, Royal Exchange NSW 1225.
On 24 October 2018, the company provided its annual general meetings update. In this, the company mentioned that their net worth has improved. The net worth shows the rise of 10% which surpassed the 9% gain recorded by the ASX All Ords Index. The company also mentioned that the performance of London City Equities had shown a positive return. The company stated that they had re-elected Mr. P.E.J. Murray as a Director of the company.
Stock performance: The shares of Imperial Pacific Limited closed the dayâs session flat at A$1.140 (22 January 2019). The market capitalization of the company stands at circa $3.52 Million with 3.09 million outstanding shares.
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