HRC WORLD PLC
NASDAQ FIRST NORTH, COPENHAGEN
TICKER: HRC
ISIN: GB00BZ3CDY20
30 JUNE 2020
Unaudited Preliminary Consolidated Results for year ended 31 March 2020
The Board of Directors of HRC World Plc (the “Company”), are pleased to announce that the Company has approved its Unaudited Preliminary Consolidated Results for the financial year ended 31 March 2020.
The Company did not record any revenue for the period. Operational overheads resulted in the loss before tax from continuing operation of US$690,000 (2019: loss of US$443,000). Loss per share for the year was US$ 0.46 per share and 150,000,000 shares were outstanding at the close of the financial year ended 31 March 2020. The Company’s consolidated net assets remained positive as at 31 March 2020. In February 2020, the Company acquired 45% equity participation in a Malaysian home-grown executive café and express fast-food kiosk based in Kuala Lumpur as well as into a business/executive lounge and music & dance club.
The impact of the Covid-19 pandemic on the hospitality sector globally has been widely reported. With our outlets forced to close, the Company has taken the opportunity of rebranding the businesses in line with HRC’s brand, and plans the re-opening of these outlets in July 2020. The Company expects to start generating income from restaurant management services thereafter. It should be noted that the Company receives fees (base on the turnover of the outlet) for its services and is not responsible for the operational costs of the outlets.
This announcement is being written at a time when the world is experiencing unprecedented conditions arising from the coronavirus or the Covid-19 pandemic. As the full impact of the Covid-19 pandemic remains unclear, the Company is being cautious in managing all stakeholders’ expectations as to the speed and nature of the recovery of the hospitality sector. However, the Company is keeping an open mind to evaluate other opportunities that may arise in these adverse economic conditions – especially in the concept outlets or branded dining restaurants.
The Directors are not proposing the payment of a dividend.
The Company expects to publish its audited Report and Accounts on or before 31 July 2020.
The unaudited annual earnings figures are appended to this release and are also available at the Company’s website http://www.hrcplc.co.uk
THE DIRECTORS OF HRC WORLD PLC ACCEPT RESPONSIBILITY FOR THIS ANNOUNCEMENT
About HRC World Plc
HRC World Plc is an England & Wales incorporated public company with registration number 10829936 and is quoted on Nasdaq First North (Copenhagen). HRC World provides café management services for developing tourist-based and event-based revenues in member restaurants as well as implementation of HRC Music initiatives.
Further information may be found at the Company’s website: www.hrcplc.co.uk
Company contact details
HRC World Plc
+603 7786 0500
info@hrcplc.co.uk
Certified Adviser
Keswick Global AG
info@keswickglobal.com
+43 1 740 408045
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