London City Equities Reported Preliminary Unaudited Results For Six Months Ended December 2018

  • Jan 21, 2019 AEDT
  • Team Kalkine
London City Equities Reported Preliminary Unaudited Results For Six Months Ended December 2018

London City Equities Limited (ASX: LCE) had come forward and made an announcement related to the important financial numbers related to the six months ended December 2018 by the issuance of the press release. As per the press release dated January 21, 2019, preliminary unaudited results are prepared, and the same had been sent out to the auditors. The company had stated that the company is expected to report the net loss after tax amounting to $0.018 million in the six months ending December 31, 2018. 

During the same period, the company is expected to post revenues amounting to $0.235 million which implies a fall on a YoY basis. In the six months to December 2017, the company had posted revenues amounting to $0.487 million.

The release which was issued today had also given information on the Balance Sheet numbers of London City Equities. There are expectations that the company might have total assets $10.19 million at the end of December 2018 while at the end of December 2017, the company had total assets of $13.62 million. The company is also expected to witness a fall in the investment portfolio. At the end of December 31, 2018, there are expectations that the company’s investment portfolio would amount to $8.45 million while at the end of December 2017, the company’s investment portfolio amounted to $10.84 million. Let us now have a look at the information related to the liabilities of London City Equities. There are expectations that the company might have total liabilities of $1.66 million at the end of December 31, 2018. However, at the end of December 31, 2017, the company’s total liabilities stood at $2.45 million.

The release reflected that the investments of London City Equities had witnessed an unfavorable momentum with regards to the market value. This happened largely because of negative reporting by the operators of the financial services. London City Equities is pleased when it comes to the existing holdings, particularly as there is a favorable momentum with respect to the dividend income.

The last traded price of London City Equities Limited was A$0.415 per share. The annual dividend yield of London City Equities Limited stood at 3.3%. However, the market capitalization of London City Equities stood at ~$9.41 million. In the past one year, the company had delivered the return of 1.22%.


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