BWA Group Plc
LSE : BWAP

December 05, 2013 05:39 ET

UNAUDITED FINANCIAL INFORMATION FOR THE SIX MONTHS ENDED 31 OCTOBER 2013

                                                                                            5 December 2013
                                                                                               GB0033877555
                                               BWA GROUP PLC
                                         ("BWA" or the "Company")
                                                     
                 UNAUDITED FINANCIAL INFORMATION FOR THE SIX MONTHS ENDED 31 OCTOBER 2013
                                                     
CHAIRMAN'S STATEMENT


Dear Shareholder

Your Board today announces the unaudited results for the half year to 31 October 2013.

We  are  pleased  to report that the Company achieved a profit before tax during the six  month  period  of
GBP1,394 which compares favourably to the loss of GBP18,107 reported for the comparative period in 2012.

During  the period, the Company achieved a profit of GBP12,912 from the sale of 10,909,090 ordinary  shares
in  Prego  International Limited ("Prego"). The Company's remaining holding in Prego has been  revalued  at
0.5p  per  share, being the share price at which Prego completed a fund raising exercise in  October  2013,
valuing  the  holding  at  GBP170,454.  It  is  currently anticipated  that  Prego  will  undertake  future
fundraisings at a higher price.

The  Directors of BWA are hopeful that the expected Admission of Prego shares onto AIM during  2014  should
create  value  for  shareholders  which  will not only benefit the Company  but  should  also  benefit  BWA
shareholders who received shares in Prego at no cost.

The  Board  continues to pursue the strategy of seeking an acquisition which meets our investment criteria,
namely,  an  established business, making, or close to making, profits and capable of cash  generation.  In
common with other companies similar to ourselves, this is proving to be a slow, time consuming task and  we
have  rejected  a significant number of opportunities which have presented themselves. The  Board  is  also
reviewing the opportunities for similar transactions to that achieved with Prego.

To  reflect the Company's ongoing commitment to securing an appropriate transaction for the Company,  James
Butterfield, a Non-Executive Director of the Company, will become an Executive Director with effect from  1
January 2014.

The  Board  continues to assess the Company's listing on the ISDX Growth Market in view of the expense  and
the very small number of transactions in the Company's shares.

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

For further information please contact:

BWA Group Plc
Richard Battersby (Non-Executive Chairman)                        07836 238 172

Peterhouse Corporate Finance Limited
Mark Anwyl or Duncan Vasey                                        020 7469 0930
                                                     
                                                     
                                                     
                                                     
                                                     
                                                     
                                                     
                                                     
                                          PROFIT AND LOSS ACCOUNT
                                                     
                                                     
                                                     
                                                         Six months  ended                   
                                                           31 October 2013         Year ended
                                                                 Unaudited      30 April 2013
                                                                        GBP            Audited
                                                                                           GBP
                                                                                     
    Turnover                                                   -                     10,000
                                                                                     
    Administrative expenses                                    (11,518)              (73,616)
                                                               ------                ------
  Operating loss                                               (11,518)              (63,616)
                                                                                     
    Profit (Loss) on investments                               12,912                (3,220)
                                                               ------                ------
                                                               1,394                 (66,836)
                                                                                     
    Finance charges (net)                                      -                     -
                                                               ------                ------
    Profit (Loss) on ordinary activities before and                                  
    after taxation and retained for the period                 1,394                 (66,836)
                                                               ------                ------
                                                                                     
    Earnings per ordinary share - basic (pence)                                      (0.06)
                                                               0.001
                                                               ------                ------
                                                                                     
    Earnings per ordinary share -diluted (pence)                                     
                                                               0.001                (0.06)
                                                               ------                ------
    
    All amounts relate to continuing activities.






                              STATEMENT OF TOTAL RECOGNISED GAINS AND LOSSES
                                                     
                                                     
                                                     
                                                         Six months ended          Year ended
                                                          31 October 2013       30 April 2013
                                                                Unaudited             Audited
                                                                      GBP                GBP
                                                                                     
                                                                                     
    Profit (Loss) for the period                                1,394                (66,836)
                                                                                     
                                                                                     
    Unrealised Profit (Loss) on revaluation of                                       
     investments                                                94,320              (168,496)
                                                                ------                ------
                                                                                     
    Total recognised gains and losses for the period            95,714              (235,332)
                                                                ------               - -----
                                                                                    
                                                                                     
                                                     
                                                     
                                                     
                                                     
                                               BALANCE SHEET
                                                     
                                                          At 31 October        At 30 April
                                                                   2013               2013
                                                              Unaudited            Audited
                                                                    GBP                GBP
  Fixed Assets                                                                       
   Available-for-sale Investments                               175,153              99,448
                                                                                     
  Current assets                                                                     
   Debtors and prepayments                                      5,388                17,625
   Cash at bank and in hand                                     31,290               71
                                                                ------               ------
                                                                36,678               17,696
                                                                                     
    Creditors: amounts falling due within one year              (77,715)             (78,742)
                                                                ------               ------
  Net current liabilities                                       (41,037)             (61,046)
                                                                ------               ------
  Total assets less current liabilities                         134,116              38,402
                                                                ------               ------
  Capital and reserves                                                               
   Called up share capital                                      560,788              560,788
     Share premium                                              12,663               12,663
     Capital redemption reserve                                 288,625              288,625
     Available-for-sale revaluation reserve                     (112,348)            (205,496)
   Profit and loss account                                      (615,612)            (618,178)
                                                                ------               ------
  Shareholders' funds                                           134,116              38,402
                                                                ------               ------




The interim results have been reviewed by the Company's auditor.

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