BWA Group Plc
LSE : BWAP

January 31, 2012 02:00 ET

Interim results for the six months ended 31 October 2011

                                                                                          31 January 2012
                                                           
                                                                                             GB0033877555


                                               BWA Group Plc
                                         ("BWA" or the "Company")
                                                     
                         Interim results for the six months ended 31 October 2011

Chairman's statement

The Directors present the unaudited interim results for the six months ended 31 October 2011.  These show a
loss  of  £37,968 including investment losses of £10,535.  There is no tax charge because of losses brought
forward.

The knock-on effects of the Extraordinary General Meeting requisitioned by certain shareholders on 31 March
2011  was  evident in this period as the time of the Directors, all of whom are non-executive, was diverted
to deal with that matter, rather than seeking the new opportunity the Company needs.

The  search  for a suitable major investment continues, but the half-year has shown a continuation  of  the
frustrations encountered previously, with a number of transactions being examined but with nothing suitable
being  brought  to a conclusion. There are certain potential transactions in the pipeline  which  give  the
Directors optimism that a deal is possible but, in the meantime, they continue to draw no remuneration.


R G Battersby

Chairman



BWA GROUP PLC

                 UNAUDITED FINANCIAL INFORMATION FOR THE SIX MONTHS ENDED 31 OCTOBER 2011

                                          PROFIT AND LOSS ACCOUNT
                                                     
                                                     
                                                     
                                                               Six months ended                   
                                                                31 October 2011         Year ended
                                                                      Unaudited      30 April 2011
                                                                              £            Audited
                                                                                                 £
                                                                                     
    Turnover                                                          14,191               75,000
                                                                                     
    Administrative expenses                                           41,627               65,196
                                                                      ------               ------
  Operating (loss) / profit                                          (27,436)               9,804
                                                                                     
    (Loss) / Gain on investments                                     (10,535)              90,350
                                                                                     
    Exceptional items                                                      -              (26,695)
                                                                      ------               ------
                                                                     (37,971)              73,459
                                                                                     
    Interest receivable                                                    3                    -
                                                                      ------               ------
    (Loss) / profit on ordinary activities before and                                
    after taxation and retained for the period                       (37,968)              73,459
                                                                      ------               ------
                                                                                     
    Earnings per ordinary share - basic (pence)                       (0.036)               0.069
                                                               
                                                                      ------               ------
                                                                                     
    Earnings per ordinary share -diluted (pence)                      (0.035)               0.068                       
                                                               
                                                                      ------               ------
    
    All amounts relate to continuing activities.

                                                     
                                                     
BWA GROUP PLC

             UNAUDITED FINANCIAL INFORMATION FOR THE SIX MONTHS ENDED 31 OCTOBER 2011

                              STATEMENT OF TOTAL RECOGNISED GAINS AND LOSSES
                                                     
                                                                 Six months ended          Year ended
                                                                  31 October 2011       30 April 2011
                                                                        Unaudited             Audited
                                                                              £                  £
                                                                                     
    (Loss) / profit for the period                                    (37,968)             73,459
                                                                                     
   Unrealised (loss) / gain on revaluation of                         (44,205)             42,088                 
   investments                                                                      
                                                                       ------              ------
                                                                
                                                                                     
    Total recognised gains and losses for the period                  (82,173)            115,547
                                                                       ------              ------
                                                                                    
                                                                                     





BWA GROUP PLC

             UNAUDITED FINANCIAL INFORMATION FOR THE SIX MONTHS ENDED 31 OCTOBER 2011

                                               BALANCE SHEET
                                                     
                                                                  At 31 October        At 30 April
                                                                           2011               2011
                                                                      Unaudited            Audited
                                                                              £                 £
  Fixed Assets                                                                       
   Available-for-sale Investments                                    295,641              287,044
                                                                                     
  Current assets                                                                     
   Debtors and prepayments                                            32,350               10,660
   Cash at bank and in hand                                           22,068               89,924
                                                                      ------               ------
                                                                      54,418              100,584
                                                                                     
    Creditors: amounts falling due within one year                   (45,679)             (19,033)
                                                                      ------               ------
  Net current assets                                                   8,739               81,551
                                                                      ------               ------
  Total assets less current liabilities                              304,380              368,595
                                                                      ------               ------
  Capital and reserves                                                               
   Called up share capital                                           539,494              527,522
     Share premium                                                     6,217                  231
     Capital redemption reserve                                      288,625              288,625
     Available-for-sale revaluation reserve                          (36,552)              42,088
   Profit and loss account                                          (493,404)            (489,871)
                                                                      ------               ------
  Shareholders' funds                                                304,380              368,595
                                                                      ------               ------




The Directors of BWA Group Plc are responsible for the contents of this announcement.

For further information please contact:

BWA Group Plc
Richard Battersby (Chairman)                                                 07836 238172

St Helens Capital Partners LLP
Mark Anwyl or Duncan Vasey                                                  020 7368 6959

Contact Information

  • BWA Group Plc