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RETAIL HOLDINGS N.V. ANNOUNCES FIRST HALF 2022 RESULTS, STRATEGY AND TIMETABLE TO LIQUIDATION
Zwei Frauen beim Shopping (Symbolbild).
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PR Newswire
WILLEMSTAD, Curacao, July 29, 2022
WILLEMSTAD, Curacao, July 29, 2022 /PRNewswire/ -- Retail Holdings N.V. (Symbol: RHDGF) -- Retail Holdings N.V. ("Retail Holdings", together with its subsidiary, the "Company"), released today results for the six months ended June 30, 2022. The results and the complete Summary Semi-Annual Report are available at the Corporate/Investor, Annual and Periodic Reports section of the Company's website: www.retailholdings.com, and can be obtained free of charge via email or mail request to Amy Pappas, Corporate Secretary, at the contact details indicated below.
First Half Results of Operations
As a consequence of the divestiture in December 2021 of the Company's equity stake in Retail Holdings (India) B.V., the Company no longer has any operating entities or operating assets. As at June 30, 2022 all of the Company's subsidiaries except Singer Asia Limited, are "in liquidation". (See Note 4 to the Financial Statements.) The interim Financial Statements have been prepared on a liquidation basis. The results of operations are reflected as discontinued operations in the Consolidated Interim Statement of Income.
The Company's overall loss for the six months ended June 30, 2022 was $186 thousand, compared to a loss of $70 thousand for the same period prior year. The loss attributable to Retail Holdings Shareholders is $160 thousand for the six months ended June 30, 3022, compared to a loss of $196 thousand for the same period prior year. A loss of $26 thousand is attributable to non-controlling interests for the six months ended June 30, 2022, compared to a profit of $126 thousand for the six months ended June 30, 2021. The loss largely reflects continuing, albeit declining, S&A expenses as the Company winds down to liquidation.
The loss attributable to Retail Holdings Shareholders is equivalent to a loss per Share of $0.03 for the six months ended June 30, 2022, compared to a loss per Share attributable to Retail Holdings Shareholders of $0.04 for the six months ended June 30, 2021.
Chairman's Comments
For additional insights as to the Company's status, intention, and likely timetable, please see the Chairman's Letter to Shareholders, dated July 25, 2022 reproduced below.
| RETAIL HOLDINGS N.V. AND SUBSIDIARIES | |||
| CONDENSED CONSOLIDATED INTERIM STATEMENT OF INCOME – LIQUIDATION BASIS | |||
| FOR THE SIX MONTHS ENDED JUNE 30, 2022 AND 2021 (Unaudited) | |||
| In thousands of US Dollars except per Share data | |||
| | |||
| | June 30, 2022
| | June 30, 2021
|
| Continuing Operations | | | |
| Revenue | - | | 170 |
| Cost of sales | - | | - |
| Gross profit | - | | 170 |
| | | | |
| Other income | - | | 5 |
| Selling and administrative (S&A) expenses | - | | (423) |
| Other expenses | - | | (2) |
| Results from operating activities | - | | (250) |
| | | | |
| Finance income | - | | - |
| Finance costs | - | | - |
| Net finance costs | - | | - |
| (Loss) before income taxes | - | | (250) |
| Income tax expense | - | | - |
|
| - | | (250) |
| | | | |
| Profit (loss) from discontinued operations, net of tax | (186) | | 180 |
|
| (186) | | (70) |
| | | | |
| | | | |
| Attributable to: | | | |
| Owners of Retail Holdings | (160) | | (196) |
| Non-controlling interests | (26) | | 126 |
|
| (186) | | (70) |
| | | | |
| (Loss) per Share (US Dollars) | (0.03) | | (0.04) |
| | | | |
| (Loss) per Share –continuing operations | - | | (0.04) |
| | | | |
| RETAIL HOLDINGS N.V. AND SUBSIDIARIES | |||
| CONDENSED CONSOLIDATED INTERIM STATEMENT OF FINANCIAL POSITION – LIQUIDATION BASIS | |||
| JUNE 30, 2022 (Unaudited) AND DECEMBER 31, 2021 | |||
| In thousands of US Dollars | |||
| | |||
| | June 30, 2022
| | December 31, 2021
|
| | | | |
| ASSETS | | | |
| Receivables | 159 | | 567 |
| Cash and cash equivalents | 5,328 | | 7,354 |
| Other current assets | 8 | | 63 Werbung Mehr Nachrichten zur Retail Holdings Aktie kostenlos abonnieren
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