Source - LSE Regulatory
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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