H. B. PROPERTIES PLC
LSE : HBPO

July 31, 2012 10:55 ET

H. B. Properties Plc (Formerly Hanseatic & Baltic Properties PLC): Results for the Fourteen Months to 29 February 2012

H. B. PROPERTIES PLC (FORMERLY HANSEATIC & BALTIC PROPERTIES PLC)
RESULTS FOR THE FOURTEEN MONTHS TO 29 FEBRUARY 2012


Chairman's statement
On behalf of the Board of Directors of H. B. Properties Plc (formerly Hanseatic & Baltic Properties
PLC),  I have the pleasure of presenting to you the results of the company for the fourteen  months
to 29 February 2012.

Overview
The  accounts  for  fourteen months to 29 February  2012  showed  a  profit  of  GBP627,902,  after
impairment of GBP9,000 in the investment in Haeng Bok (Happy) DNC Plc, and writing back a  previous
impairment in respect of the investment in Total International Investments Limited of GBP675,700.

In January 2011,  the company acquired as an additional investment approximately 45% of  Haeng  Bok
(Happy) DNC  Plc,  a property company incorporated in South Korea.  This  is  consistent  with  our
ongoing strategy to acquire shares in Far East property companies.

In January 2012,  the  company sold its investment in Total International Investments Limited to  a
specially formed wholly owned subsidiary registered in Singapore,  Hanseatic  &  Baltic  Properties
Asia Pte. Limited for GBP1,952,000. A profit of GBP44,300 arose on the transaction.

Outlook
The  company continues to seek property investments both in Far East and other parts of  the  world
which  offer  high growth opportunities to enhance shareholder value.  We are maintaining  a  tight
control  of  the Company's resources,  which we consider adequate  to  support  current  levels  of
expenditure.

S. Lakhany

Director



31 July 2012

The Directors of the Issuer accept responsibility for this announcement.

FOR FURTHER INFORMATION PLEASE CONTACT:

Leo Knifton
H. B. Properties PLC (formerly Hanseatic & Baltic Properties Plc)
Finsgate
5-7 Cranwood Street
London
EC1V 9EE

Tel: +44 (0) 20 7309 2281
Fax: +44 (0) 20 7566 0023

Nick Michaels
Alfred Henry Corporate Finance Limited
Tel: +44 (0) 20 7251 3762



GROUP PROFIT AND LOSS ACCOUNT
FOR THE FOURTEEN MONTHS TO 29 FEBRUARY 2012

                                                                            2012        2010
                                                               Notes         GBP         GBP
                                                          
Turnover                                                                       -           -
Cost of sales                                                                  -           -
                                                                        --------    --------
Gross profit                                                                   -           -

Administrative expenses                                                  (38,798)    (58,199)
                                                                        --------    --------

Operating loss                                                           (38,798)    (58,199)
Interest received                                                              -           -
Provision against investment                                              (9,000)   (675,700)
Provision against investment written back                                675,700           -
                                                                        --------    --------
Loss on ordinary activities before taxation                              627,902    (733,899)

Tax on loss on ordinary activities                                             -           -
                                                                        --------    --------

Loss for the year                                                        627,902    (733,899)
                                                                        --------    --------
                                                                        --------    --------


Loss per share - Basic                                             2        0.7p       (0.8p)

All of the activities of the group during the period are classified as continuing.

GROUP BALANCE SHEET
AS AT 29 FEBRUARY 2012

                                                         2012                      2010
                                                  GBP            GBP        GBP            GBP
Fixed Asset
Investments                                                1,908,700                 1,232,000


Current assets
Debtors                                         7,214                     1,175
Cash at bank and in hand                       10,182                     9,852
                                             --------                  --------  
                                               17,396                    11,027

Creditors: amounts falling due
within one year                               (98,497)                  (53,330)
                                             --------                  --------  


Current assets less current
liabilities                                                  (81,101)                  (42,303)
                                                          ----------                ----------

Total assets less current
liabilities                                                1,827,599                 1,189,697


Creditors: amounts falling due
after more than one year                                     (85,250)                  (85,250)
                                                          ----------                ----------
                                                           1,742,349                 1,104,447
                                                          ----------                ----------
                                                          ----------                ----------

Capital and reserves
Called up share capital                                       65,036                    65,026
Share premium                                              1,917,414                 1,907,424
Profit and loss account                                     (240,101)                 (868,003)
                                                          ----------                ----------

Shareholders' funds - equity
interests                                                  1,742,349                 1,104,447
                                                          ----------                ----------
                                                          ----------                ----------


NOTES TO THE RESULTS
FOR THE PERIOD ENDED 29 FEBRUARY 2012


1. The financial information set out above does not constitute statutory accounts for the purpose
of Section 434 of the Companies Act 2006. The financial information has been extracted  from  the
statutory  accounts  of H. B. Properties PLC (formerly Hanseatic & Baltic Properties Plc) and  is
presented using the same accounting policies, which have not yet been filed with the Registrar of
companies, but on which the auditors gave an unqualified report on 31 July 2012.

The preliminary announcement of the results for the period ended 29 February 2012 was approved by
the board of directors on 31 July 2012.

2. Earnings per share
Basic  earnings  per  share  is calculated by dividing  the  earnings  attributable  to  ordinary
shareholders  by  the weighted average number of ordinary shares during the period.  The weighted
average number of equity shares in issue was 93,360,987 (2010 - 92,368,046) and the profit  after
tax was GBP 627,902 (2010 - loss GBP 733,899).

Contact Information

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