3rd Quarter Results
2008年1月26日 - 1:22AM
ＲＮＳを含む英国規制内ニュース （英語）
RNS Number:6065M
BB Holdings Ltd
25 January 2008
BB HOLDINGS LIMITED ANNOUNCES RESULTS FOR THE
NINE MONTHS ENDED DECEMBER 31, 2007
Belize City, Belize, January 25, 2008 -- BB Holdings Limited (London - AIM:
BBHL) ("BB Holdings") reported net income of $16.1m (2006 -- $11.9m) for the
quarter ended December 31, 2007, the third quarter of fiscal 2008.
Diluted earnings per share for the quarter ended December 31, 2007 was $0.27
(2006 -- $0.20).
Net income and diluted earnings per share for the nine months ended December 31,
2007 amounted to $43.6m (2006 -- $32.9m) and $0.74 (2006 -- $0.55),
respectively.
Commenting on performance, Chairman, Lord Ashcroft, KCMG, said:
"Financial Services continues to show strong growth. The injection this year of
$100 million of new funds into the Turks and Caicos operations has further
increased the Division's US dollar earnings."
"With Numar contributing an impressive $5.1 million in the current quarter,
earnings per share increased 35 percent over last year."
Financial Services reported one of its best quarters ever for the quarter ended
December 31, 2007. Operating income for the quarter, net of corporate interest
on the $100 million loan notes, increased by 11.2 percent to $11.9m (2006 --
$10.7m).
Operating income, net of corporate interest on the $100 million loan notes, for
the nine months ended December 31, 2007 increased by 15.6 percent to $32.6m
(2006 -- $28.2m). Over 60 percent of Financial Services net income is now earned
in US dollars.
The Company's share of Numar's earnings increased by 92.9 percent to $13.5
million for the nine months ended December 31, 2007. Market prices of crude palm
oil have remained at a high level with new investment in production capacity
continuing to enhance sales and gross margin.
Background Information
The Financial Services division operates principally through the Belize Bank in
Belize and the Turks and Caicos Islands. In Belize, the Bank is the largest,
full service commercial and retail banking operation with a head office in
Belize City and thirteen branches extending into each of the six districts of
Belize. The principal operations of the Bank are commercial lending, consumer
lending, deposit-taking and related banking activities. In Turks and Caicos the
Bank is one of the largest commercial lenders and is expanding rapidly.
The Company's associate, Numar, owns edible oil processing and distribution
operations and palm seed plantations principally in Costa Rica, where they are
market leaders in edible oils, margarine, industrial oils and animal feed.
For further information contact:
Makinson Cowell BB Holdings
+1 (212) 994 9044 UK +44 (0)20 7248 6700
Belize +501 227 7178
Note: This and other press releases are available at the Company's web site:
http://www.bbholdingslimited.com.
BB Holdings Limited
Financial Information
Summarized Consolidated Statements of Income (unaudited)
US dollars in millions except per share data
3 months ended 3 months ended 9 months ended 9 months ended
December 31, December 31, December 31, December 31,
2007 2006 2007 2006
Financial Services
Interest income 23.6 17.2 62.4 48.2
Interest expense (7.0) (5.6) (19.3) (15.5)
Net non-interest expense (2.9) (0.9) (6.4) (4.5)
Financial Services operating 13.7 10.7 36.7 28.2
income
Corporate expenses (1.0) (1.4) (2.7) (2.8)
Associates 5.1 2.5 13.5 7.0
Interest (expense) income (1.7) 0.1 (3.9) 0.5
Net income 16.1 11.9 43.6 32.9
Earnings per ordinary share:
Basic and diluted:
Net income $0.27 $0.20 $0.74 $0.55
Number of shares - basic 59.1m 59.7m 59.1m 59.7m
Number of shares - diluted 59.1m 59.7m 59.1m 59.7m
BB Holdings Limited
Financial Information
Summarized Consolidated Balance Sheet (unaudited)
December 31 March 31
2007 2007
$m $m
Assets
Financial Services
Cash, cash equivalents and due from banks 41.3 41.2
Interest-bearing deposits with correspondent banks 119.0 94.0
Loans - net 716.4 508.5
Property, plant and equipment - net 16.5 14.8
Other assets 41.1 39.7
Total Financial Services assets 934.3 698.2
Cash and cash equivalents 4.9 5.2
Other current assets 2.5 0.6
Property, plant and equipment - net 0.1 0.1
Associates 73.5 63.6
Total assets 1,015.3 767.7
Liabilities and shareholders' equity
Financial Services
Deposits 606.1 504.8
Short-term debt 4.5 6.0
Interest payable 8.8 7.1
Other liabilities 8.5 6.3
Long-term debt 12.5 12.5
Total Financial Services liabilities 640.4 536.7
Current liabilities 2.1 1.8
Long-term liabilities 1.2 1.2
Long-term debt 100.0 -
Total liabilities 743.7 539.7
Total shareholders' equity 271.6 228.0
Total liabilities and shareholders' equity 1,015.3 767.7
BB Holdings Limited
Financial Information
Summarized Consolidated Statements of Cash Flows (unaudited)
For the nine months ended December 31 2007 2006
$m $m
Cash flows from operating activities
Net income 43.6 32.9
Adjustments to reconcile net income to net cash
provided by operating activities:
Depreciation 0.9 0.8
Provision for loan losses 5.4 3.7
Undistributed earnings of associates (9.9) (3.7)
Increase in interest payable 1.7 1.3
Changes in assets and liabilities - net (0.8) (9.3)
Net cash provided by operating activities 40.9 25.7
Cash flows from investing activities
Purchase of property plant and equipment (net of disposals) (2.6) (2.9)
(Increase) in interest-bearing deposits (25.0) (2.6)
(Increase) in loans to customers (213.3) (104.9)
Decrease in Government securities - 8.5
Net cash utilized by investing activities (240.9) (101.9)
Cash flows from financing activities
Increase in deposits 101.3 77.1
Increase (decrease) in long-term debt 100.0 (2.5)
(Decrease) increase in short-term debt (1.5) 1.5
Net purchase of treasury shares - (3.4)
Net cash provided by financing activities 199.8 72.7
Net change in cash, cash equivalents and due from banks (0.2) (3.5)
Cash, cash equivalents and due from banks at beginning of period 46.4 49.2
Cash, cash equivalents and due from banks at end of period 46.2 45.7
This information is provided by RNS
The company news service from the London Stock Exchange
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