TIDMCHWI
RNS Number : 8716Z
China Western Investments PLC
29 September 2009
30 September 2009
China Western Investments PLC
Interim results of the six months ended 30 June 2009
CHAIRMAN'S STATEMENT
The accounts for the six months ended 30 June 2009 are presented which show a
loss after tax of GBP115,000. The hospital income continues to improve and the
developed areas of the Lanzhou property are let to tenants.
In order to provide enhanced hospital services, it was necessary to install
additional medical equipment whilst the renovation of the existing building took
place. Investment in equipment amounted to GBP1.2 million during the period
although the majority of the expenditure was made in June 2009. As a result the
impact on revenue and depreciation is not seen in the six monthly figures but
should enhance earnings in the second half of 2009.
Suppliers of the equipment have agreed to payment by instalments and some funds
have been created through bank loans. Your Board believes that the increased
income to be generated from the investment in equipment will create the cash
flow required to fund the expense.
Income continues to grow and it is hoped that this will continue and, in the
medium term, cover the interest cost. Obviously, it is necessary to continue to
search out funds to provide investment capital for development of the Lanzhou
property and this continues to be the goal.
The shareholders have continued to provide funds that enable trading to continue
and provide ongoing investment capital.
Michael A Shields
Chairman
Enquiries:
Company Secretary - Harry Jeffs - 01539 723233
Shore Capital & Corporate Ltd - Pascal Keane - 020 7408 4090
+----------------------------------------+-------+-------------+-+-------------+-+-------------+
| China Western Investments PLC | | | | | | |
| Condensed Group Statement of | | | | | | |
| Comprehensive Income for the six | | | | | | |
| months ended 30 June 2009 | | | | | | |
| | | | | | | |
+----------------------------------------+-------+-------------+-+-------------+-+-------------+
| | Notes | Period | | Period | | Year ended |
| | | ended | | ended | |31 December |
| | | 30 June | | 30 June | | 2008 |
| | | 2009 | | 2008 | | (Audited) |
| | |(Unaudited) | |(Unaudited) | | |
| | | | | | | |
+----------------------------------------+-------+-------------+-+-------------+-+-------------+
| | | GBP'000 | | GBP'000 | | GBP'000 |
+----------------------------------------+-------+-------------+-+-------------+-+-------------+
| | | | | | | |
+----------------------------------------+-------+-------------+-+-------------+-+-------------+
| Revenue | | 782 | | 454 | | 1,240 |
+----------------------------------------+-------+-------------+-+-------------+-+-------------+
| | | | | | | |
+----------------------------------------+-------+-------------+-+-------------+-+-------------+
| Cost of sales | | (111) | | (152) | | (162) |
+----------------------------------------+-------+-------------+-+-------------+-+-------------+
| | | | | | | |
+----------------------------------------+-------+-------------+-+-------------+-+-------------+
| Gross profit | | 671 | | 302 | | 1,078 |
+----------------------------------------+-------+-------------+-+-------------+-+-------------+
| | | | | | | |
+----------------------------------------+-------+-------------+-+-------------+-+-------------+
| Administrative expenses | | (219) | | (312) | | (1,406) |
+----------------------------------------+-------+-------------+-+-------------+-+-------------+
| | | | | | | |
+----------------------------------------+-------+-------------+-+-------------+-+-------------+
| Finance costs | | (588) | | (454) | | (1,173) |
+----------------------------------------+-------+-------------+-+-------------+-+-------------+
| | | | | | | |
+----------------------------------------+-------+-------------+-+-------------+-+-------------+
| Deficit on property revaluation | | - | | - | | (50) |
+----------------------------------------+-------+-------------+-+-------------+-+-------------+
| | | | | | | |
+----------------------------------------+-------+-------------+-+-------------+-+-------------+
| Loss before taxation | | (136) | | (464) | | (1,551) |
+----------------------------------------+-------+-------------+-+-------------+-+-------------+
| | | | | | | |
+----------------------------------------+-------+-------------+-+-------------+-+-------------+
| Income tax expense | | (21) | | (18) | | (39) |
+----------------------------------------+-------+-------------+-+-------------+-+-------------+
| | | | | | | |
+----------------------------------------+-------+-------------+-+-------------+-+-------------+
| | | | | | | |
+----------------------------------------+-------+-------------+-+-------------+-+-------------+
| Loss for the financial period | | (115) | | (482) | | (1,590) |
+----------------------------------------+-------+-------------+-+-------------+-+-------------+
| | | | | | | |
+----------------------------------------+-------+-------------+-+-------------+-+-------------+
| Loss attributable to: | | | | | | |
+----------------------------------------+-------+-------------+-+-------------+-+-------------+
| - owners of the parent | | (115) | | (482) | | (1,588) |
+----------------------------------------+-------+-------------+-+-------------+-+-------------+
| - minority interest | | - | | - | | (2) |
+----------------------------------------+-------+-------------+-+-------------+-+-------------+
| | | | | | | |
+----------------------------------------+-------+-------------+-+-------------+-+-------------+
| | | (115) | | (482) | | (1,590) |
+----------------------------------------+-------+-------------+-+-------------+-+-------------+
+----------------------------------------+-----+-------------+-+-------------+-+-------------+
| Other comprehensive income | | | | | | |
+----------------------------------------+-----+-------------+-+-------------+-+-------------+
| | | | | | | |
+----------------------------------------+-----+-------------+-+-------------+-+-------------+
| Currency translation differences | | (3,067) | | 1,135 | | 7,125 |
+----------------------------------------+-----+-------------+-+-------------+-+-------------+
| | | | | | | |
+----------------------------------------+-----+-------------+-+-------------+-+-------------+
| Total comprehensive income for the | | (3,224) | | 653 | | 5,535 |
| period | | | | | | |
+----------------------------------------+-----+-------------+-+-------------+-+-------------+
| | | | | | | |
+----------------------------------------+-----+-------------+-+-------------+-+-------------+
| Total comprehensive income | | | | | | |
| attributable to: | | | | | | |
+----------------------------------------+-----+-------------+-+-------------+-+-------------+
| - owners of the parent | | (3,224) | | 653 | | 5,537 |
+----------------------------------------+-----+-------------+-+-------------+-+-------------+
| - minority interest | | - | | - | | (2) |
+----------------------------------------+-----+-------------+-+-------------+-+-------------+
| | | (3,224) | | 653 | | 5,535 |
+----------------------------------------+-----+-------------+-+-------------+-+-------------+
| Loss per share (pence) - basic & | | | | | | |
| diluted | | | | | | |
+----------------------------------------+-----+-------------+-+-------------+-+-------------+
| Total activities | 3 | (0.02) | | (0.07) | | (0.21) |
+----------------------------------------+-----+-------------+-+-------------+-+-------------+
| | | | | | | |
+----------------------------------------+-----+-------------+-+-------------+-+-------------+
+---------------------------------------------+---------+---------+-------------+---------+-----------+-----------+----------+
| China Western Investments PLC | | | | | | | |
| Condensed Group Statement of Changes in | | | | | | | |
| Equity for the six months ended 30 June | | | | | | | |
| 2009 | | | | | | | |
+---------------------------------------------+---------+---------+-------------+---------+-----------+-----------+----------+
| | Share | Share |Revaluation | Merger | Retained | Minority | Total |
| |capital |premium | reserve |reserve | earnings |Interests | GBP'000 |
| |GBP'000 |GBP'000 | GBP'000 |GBP'000 | GBP'000 | GBP'000 | |
| | | | | | | | |
+---------------------------------------------+---------+---------+-------------+---------+-----------+-----------+----------+
| | | | | | | | |
+---------------------------------------------+---------+---------+-------------+---------+-----------+-----------+----------+
| Balance as at 1 January 2008 | 7,283 | 32,919 | 18,262 | 3 | (29,012) | 212 | 29,667 |
+---------------------------------------------+---------+---------+-------------+---------+-----------+-----------+----------+
| | | | | | | | |
+---------------------------------------------+---------+---------+-------------+---------+-----------+-----------+----------+
| Exchange differences on translating foreign | - | - | - | - | 1,135 | - | 1,135 |
| operations | | | | | | | |
+---------------------------------------------+---------+---------+-------------+---------+-----------+-----------+----------+
| Net income recognised directly in equity | - | - | - | - | 1,135 | - | 1,135 |
+---------------------------------------------+---------+---------+-------------+---------+-----------+-----------+----------+
| Loss for the period | - | - | - | - | (482) | - | (482) |
+---------------------------------------------+---------+---------+-------------+---------+-----------+-----------+----------+
| | | | | | | | |
+---------------------------------------------+---------+---------+-------------+---------+-----------+-----------+----------+
| Total comprehensive income and expense | - | - | - | - | 653 | - | 653 |
+---------------------------------------------+---------+---------+-------------+---------+-----------+-----------+----------+
| Balance at 30 June 2008 | 7,283 | 32,919 | 18,262 | 3 | (28,359) | 212 | 30,320 |
+---------------------------------------------+---------+---------+-------------+---------+-----------+-----------+----------+
| | | | | | | | |
+---------------------------------------------+---------+---------+-------------+---------+-----------+-----------+----------+
| Balance as at 1 January 2008 | 7,283 | 32,919 | 18,262 | 3 | (29,012) | 212 | 29,667 |
+---------------------------------------------+---------+---------+-------------+---------+-----------+-----------+----------+
| | | | | | | | |
+---------------------------------------------+---------+---------+-------------+---------+-----------+-----------+----------+
| Exchange differences on translating foreign | - | - | - | - | 7,125 | - | 7,125 |
| operations | | | | | | | |
+---------------------------------------------+---------+---------+-------------+---------+-----------+-----------+----------+
| Net income recognised directly in equity | - | - | - | - | 7,125 | - | 7,125 |
+---------------------------------------------+---------+---------+-------------+---------+-----------+-----------+----------+
| Loss for the year | - | - | - | - | (1,588) | - | (1,588) |
+---------------------------------------------+---------+---------+-------------+---------+-----------+-----------+----------+
| | | | | | | | |
+---------------------------------------------+---------+---------+-------------+---------+-----------+-----------+----------+
| Total comprehensive income and expense | - | - | - | - | 5,537 | (2) | 5,537 |
+---------------------------------------------+---------+---------+-------------+---------+-----------+-----------+----------+
| Balance at 31 December 2008 | 7,283 | 32,919 | 18,262 | 3 | (23,475) | 210 | 35,202 |
+---------------------------------------------+---------+---------+-------------+---------+-----------+-----------+----------+
+---------------------------------------------+---------+---------+-------------+---------+-----------+-----------+----------+
| | Share | Share |Revaluation | Merger | Retained | Minority | Total |
| |capital |premium | reserve |reserve | earnings |Interests | GBP'000 |
| |GBP'000 |GBP'000 | GBP'000 |GBP'000 | GBP'000 | GBP'000 | |
| | | | | | | | |
+---------------------------------------------+---------+---------+-------------+---------+-----------+-----------+----------+
| | | | | | | | |
+---------------------------------------------+---------+---------+-------------+---------+-----------+-----------+----------+
| Balance as at 1 January 2009 | 7,283 | 32,919 | 18,262 | 3 | (23,475) | 210 | 35,202 |
+---------------------------------------------+---------+---------+-------------+---------+-----------+-----------+----------+
| | | | | | | | |
+---------------------------------------------+---------+---------+-------------+---------+-----------+-----------+----------+
| Exchange differences on translating foreign | - | - | - | - | (3,067) | - | (3,067) |
| operations | | | | | | | |
+---------------------------------------------+---------+---------+-------------+---------+-----------+-----------+----------+
| Net income recognised directly in equity | - | - | - | - | (3,067) | - | (3,067) |
+---------------------------------------------+---------+---------+-------------+---------+-----------+-----------+----------+
| Loss for the period | - | - | - | - | (157) | - | (157) |
+---------------------------------------------+---------+---------+-------------+---------+-----------+-----------+----------+
| Total comprehensive income and expense | - | - | - | - | (3,224) | - | (3,224) |
+---------------------------------------------+---------+---------+-------------+---------+-----------+-----------+----------+
| Balance at 30 June 2009 | 7,283 | 32,919 | 18,262 | 3 | (26,699) | 210 | 31,978 |
+---------------------------------------------+---------+---------+-------------+---------+-----------+-----------+----------+
+---------------------------------+-------+-------------+-------------+------------+
| China Western Investments PLC | | | | |
| Condensed Group Balance Sheet | | | | |
| 30 June 2009 | | | | |
+---------------------------------+-------+-------------+-------------+------------+
| | Notes | 30 June | 30 June | 31 |
| | | 2009 | 2008 | December |
| | |(Unaudited) |(Unaudited) | 2008 |
| | | | Restated | (Audited) |
| | | | | |
+---------------------------------+-------+-------------+-------------+------------+
| | | GBP'000 | GBP'000 | GBP'000 |
+---------------------------------+-------+-------------+-------------+------------+
| ASSETS | | | | |
+---------------------------------+-------+-------------+-------------+------------+
| Non-Current Assets | | | | |
+---------------------------------+-------+-------------+-------------+------------+
| Investment properties | | 35,793 | 32,473 | 40,616 |
+---------------------------------+-------+-------------+-------------+------------+
| Property, plant and equipment | | 2,042 | 789 | 1,033 |
+---------------------------------+-------+-------------+-------------+------------+
| | | | | |
+---------------------------------+-------+-------------+-------------+------------+
| Total non-current assets | | 37,835 | 33,262 | 41,649 |
+---------------------------------+-------+-------------+-------------+------------+
| | | | | |
+---------------------------------+-------+-------------+-------------+------------+
| Non-current assets held for | | 1,150 | - | 1,150 |
| sale | | | | |
+---------------------------------+-------+-------------+-------------+------------+
| | | | | |
+---------------------------------+-------+-------------+-------------+------------+
| Current assets | | | | |
+---------------------------------+-------+-------------+-------------+------------+
| Trade and other receivables | | 187 | 259 | 190 |
+---------------------------------+-------+-------------+-------------+------------+
| Property under construction | | 19,167 | 18,908 | 19,397 |
+---------------------------------+-------+-------------+-------------+------------+
| Inventories | | 15 | 24 | 30 |
+---------------------------------+-------+-------------+-------------+------------+
| Cash and cash equivalents | | 100 | 34 | 30 |
+---------------------------------+-------+-------------+-------------+------------+
| | | | | |
+---------------------------------+-------+-------------+-------------+------------+
| Total current assets | | 19,469 | 19,225 | 19,647 |
+---------------------------------+-------+-------------+-------------+------------+
| | | | | |
+---------------------------------+-------+-------------+-------------+------------+
| TOTAL ASSETS | | 58,454 | 52,487 | 62,446 |
+---------------------------------+-------+-------------+-------------+------------+
| | | | | |
+---------------------------------+-------+-------------+-------------+------------+
| EQUITY AND LIABILITIES | | | | |
+---------------------------------+-------+-------------+-------------+------------+
| Share capital | | 7,283 | 7,283 | 7,283 |
+---------------------------------+-------+-------------+-------------+------------+
| Share premium | | 32,919 | 32,919 | 32,919 |
+---------------------------------+-------+-------------+-------------+------------+
| Other reserves | | 18,265 | 18,265 | 18,265 |
+---------------------------------+-------+-------------+-------------+------------+
| Retained earnings | | (26,699) | (28,359) | (23,475) |
+---------------------------------+-------+-------------+-------------+------------+
| | | | | |
+---------------------------------+-------+-------------+-------------+------------+
| | | 31,768 | 30,108 | 34,992 |
+---------------------------------+-------+-------------+-------------+------------+
| Minority interest | | 210 | 212 | 210 |
+---------------------------------+-------+-------------+-------------+------------+
| | | | | |
+---------------------------------+-------+-------------+-------------+------------+
| Total equity | | 31,978 | 30,320 | 35,202 |
+---------------------------------+-------+-------------+-------------+------------+
| | | | | |
+---------------------------------+-------+-------------+-------------+------------+
| Non-Current liabilities | | | | |
+---------------------------------+-------+-------------+-------------+------------+
| Financial liabilities | | 270 | 270 | 270 |
+---------------------------------+-------+-------------+-------------+------------+
| Long term borrowings | | - | 49 | - |
+---------------------------------+-------+-------------+-------------+------------+
| Deferred tax liability | | 5,585 | 5,600 | 5,585 |
+---------------------------------+-------+-------------+-------------+------------+
| | | | | |
+---------------------------------+-------+-------------+-------------+------------+
| Total non-current liabilities | | 5,855 | 5,919 | 5,855 |
+---------------------------------+-------+-------------+-------------+------------+
| | | | | |
+---------------------------------+-------+-------------+-------------+------------+
| Current liabilities | | | | |
+---------------------------------+-------+-------------+-------------+------------+
| Trade and other payables | | 5,629 | 4,138 | 5,154 |
+---------------------------------+-------+-------------+-------------+------------+
| Short term borrowings | | 14,811 | 11,948 | 16,042 |
+---------------------------------+-------+-------------+-------------+------------+
| Current tax payable | | 181 | 162 | 193 |
+---------------------------------+-------+-------------+-------------+------------+
| | | | | |
+---------------------------------+-------+-------------+-------------+------------+
| Total current liabilities | | 20,621 | 16,248 | 21,389 |
+---------------------------------+-------+-------------+-------------+------------+
| | | | | |
+---------------------------------+-------+-------------+-------------+------------+
| Total liabilities | | 26,476 | 22,167 | 27,244 |
+---------------------------------+-------+-------------+-------------+------------+
| | | | | |
+---------------------------------+-------+-------------+-------------+------------+
| TOTAL EQUITY and LIABILITIES | | 58,454 | 52,487 | 62,446 |
+---------------------------------+-------+-------------+-------------+------------+
| | | | | |
+---------------------------------+-------+-------------+-------------+------------+
+---------------------------------------+-------+-------------+-------------+-----------+
| China Western Investments PLC | | | | |
| Condensed Group Cash Flow Statement | | | | |
| for the six months ended 30 June 2009 | | | | |
| | | | | |
| | | | | |
+---------------------------------------+-------+-------------+-------------+-----------+
| | Notes | Period | Period | Year |
| | | ended | ended | ended |
| | | 30 June | 30 June | 31 |
| | | 2009 | 2008 | December |
| | | (Unaudited) | (Unaudited) | 2008 |
| | | | |(Audited) |
+---------------------------------------+-------+-------------+-------------+-----------+
| | | GBP'000 | GBP'000 | GBP'000 |
+---------------------------------------+-------+-------------+-------------+-----------+
| | | | | |
+---------------------------------------+-------+-------------+-------------+-----------+
| Cash flows from operating activities | | | | |
+---------------------------------------+-------+-------------+-------------+-----------+
| Loss before tax | | (136) | (464) | (1,551) |
+---------------------------------------+-------+-------------+-------------+-----------+
| Adjustments for | | | | |
+---------------------------------------+-------+-------------+-------------+-----------+
| Depreciation | | 61 | 45 | 146 |
+---------------------------------------+-------+-------------+-------------+-----------+
| Exchange (gain) / loss | | (449) | (5) | 148 |
+---------------------------------------+-------+-------------+-------------+-----------+
| Deficit on valuation | | - | - | 50 |
+---------------------------------------+-------+-------------+-------------+-----------+
| (Increase) in Inventories | | (11) | (2) | (2) |
+---------------------------------------+-------+-------------+-------------+-----------+
| Decrease / (Increase) in trade and | | 18 | (22) | 112 |
| other receivables | | | | |
+---------------------------------------+-------+-------------+-------------+-----------+
| Increase in trade and other payables | | 1,060 | 162 | 555 |
+---------------------------------------+-------+-------------+-------------+-----------+
| | | | | |
+---------------------------------------+-------+-------------+-------------+-----------+
| Cash generated from / (used in) | | 543 | (286) | (542) |
| operations | | | | |
+---------------------------------------+-------+-------------+-------------+-----------+
| | | | | |
+---------------------------------------+-------+-------------+-------------+-----------+
| Income taxes paid | | (27) | (23) | (54) |
+---------------------------------------+-------+-------------+-------------+-----------+
| | | | | |
+---------------------------------------+-------+-------------+-------------+-----------+
| Net cash from operating activities | | 516 | (309) | (596) |
+---------------------------------------+-------+-------------+-------------+-----------+
| | | | | |
+---------------------------------------+-------+-------------+-------------+-----------+
| Cash flows from investing activities | | | | |
+---------------------------------------+-------+-------------+-------------+-----------+
| Purchase of property, plant and | | (1,194) | (29) | (184) |
| equipment | | | | |
+---------------------------------------+-------+-------------+-------------+-----------+
| | | | | |
+---------------------------------------+-------+-------------+-------------+-----------+
| Net cash used in investing activities | | (1,194) | (29) | (184) |
+---------------------------------------+-------+-------------+-------------+-----------+
| | | | | |
+---------------------------------------+-------+-------------+-------------+-----------+
| Cash flows from financing activities | | | | |
+---------------------------------------+-------+-------------+-------------+-----------+
| Increase in borrowings | | 748 | 377 | 790 |
+---------------------------------------+-------+-------------+-------------+-----------+
| (Decrease) of finance lease | | - | (25) | - |
| liabilities | | | | |
+---------------------------------------+-------+-------------+-------------+-----------+
| | | | | |
+---------------------------------------+-------+-------------+-------------+-----------+
| Net cash generated from financing | | 748 | 352 | 790 |
| activities | | | | |
+---------------------------------------+-------+-------------+-------------+-----------+
| | | | | |
+---------------------------------------+-------+-------------+-------------+-----------+
| Net increase in cash | | 70 | 14 | 10 |
+---------------------------------------+-------+-------------+-------------+-----------+
| | | | | |
+---------------------------------------+-------+-------------+-------------+-----------+
| Cash and cash equivalents at | | 30 | 20 | 20 |
| beginning of period | | | | |
+---------------------------------------+-------+-------------+-------------+-----------+
| | | | | |
+---------------------------------------+-------+-------------+-------------+-----------+
| Cash and cash equivalents at end of | | 100 | 34 | 30 |
| period | | | | |
+---------------------------------------+-------+-------------+-------------+-----------+
NOTES TO THE INTERIM ACCOUNTS
for the six months ended 30 June 2009
1 BASIS OF PREPARATION
The condensed consolidated interim financial information for the six months
ended 30 June 2009 has not been prepared in accordance with IAS34, 'interim
financial reporting'. The accounting policies and the presentation of the
interim financial information are consistent with those used in the 2008
financial statements. Where necessary, the comparatives have been reclassified
or extended from the previously reported interim financial information to take
into account any presentational changes made in the annual financial statements
or in these interim financial statements.
The condensed consolidated financial information for the six months ended 30
June 2009 and 30 June 2008 is unaudited and does not constitute statutory
financial accounts as defined in Section 240 of the Companies Act 1985 and
Section 435 of the Companies Act 2006.
The information for the year ended 31 December 2008 does not constitute
statutory accounts for that year has been delivered to the Registrar of
Companies. The auditors' report on those accounts was unqualified, did not
include a reference to any matter to which the auditors drew attention by way of
emphasis without qualifying their report, and did not contain a statement under
Section 237(2) or 237(3) of the Companies Act 1985.
GOING CONCERN
United Kingdom law requires the Company's directors to consider whether it is
appropriate to prepare financial statements on the basis that the Group is a
going concern. In considering this matter the directors have reviewed the
Groups' budget and its plan for 2009 and 2010. This involved consideration of
the cash flow implications of the budget and the plan. The directors see no
reason why the Group and Company should not continue in operational existence
for the foreseeable future, given the subordinated loan and shareholder loans
secured. For this reason they have adopted the going concern basis in preparing
the Group's financial statements.
2ACCOUNTING POLICIES
The accounting policies applied are consistent with those in the annual
financial statements for the year ended 31 December 2008, except those as
described below.
Taxation for the period ended 30 June 2009 is based on the effective rate of tax
which is estimated to apply to the year ended 31 December 2009.
The following new standards and amendments to standards are mandatory for the
first time for the financial periods beginning 1 January 2009.
+----------+----------+----------+----------+----------+----------+-----------------------------------------+---------------+
| | | | | | | * | IAS 1 |
| | | | | | | | (revised), |
| | | | | | | | 'Presentation |
| | | | | | | | of financial |
| | | | | | | | statements'. |
| | | | | | | | The revised |
| | | | | | | | standard |
| | | | | | | | prohibits the |
| | | | | | | | presentation |
| | | | | | | | of items of |
| | | | | | | | income and |
| | | | | | | | expenses |
| | | | | | | | (that is |
| | | | | | | | 'non-owner |
| | | | | | | | changes in |
| | | | | | | | equity') in |
| | | | | | | | the statement |
| | | | | | | | of changes in |
| | | | | | | | equity, |
| | | | | | | | requiring |
| | | | | | | | 'non-owner |
| | | | | | | | changes in |
| | | | | | | | equity' to be |
| | | | | | | | presented |
| | | | | | | | separately |
| | | | | | | | from owner |
| | | | | | | | changes in |
| | | | | | | | equity. All |
| | | | | | | | 'non-owner |
| | | | | | | | changes in |
| | | | | | | | equity' are |
| | | | | | | | required to |
| | | | | | | | be shown in a |
| | | | | | | | performance |
| | | | | | | | statement.. |
+----------+----------+----------+----------+----------+----------+-----------------------------------------+---------------+
| | | | | | | | The |
| | | | | | | | Group |
| | | | | | | | has |
| | | | | | | | elected |
| | | | | | | | to |
| | | | | | | | present |
| | | | | | | | one |
| | | | | | | | performance |
| | | | | | | | statement - |
| | | | | | | | the |
| | | | | | | | statement |
| | | | | | | | of |
| | | | | | | | comprehensive |
| | | | | | | | income. The |
| | | | | | | | interim |
| | | | | | | | financial |
| | | | | | | | statements |
| | | | | | | | have been |
| | | | | | | | prepared |
| | | | | | | | under the |
| | | | | | | | revised |
| | | | | | | | disclosure |
| | | | | | | | requirements. |
+----------+----------+----------+----------+----------+----------+-----------------------------------------+---------------+
3 EARNINGS PER SHARE
The calculation of total loss per ordinary share is based on the loss after
taxation of GBP0.115m (31 December 2008: GBP1.558m; 30 June 2008 GBP0.482m) and
on the weighted average number of ordinary shares in issue during the period of
728,375,495 (31 December 2008: 728,375,495; 30 June 2008 728,375,495).
All activities in the period to 30 June 2009 were classed as continuing.
As the Company has made a loss for the period ended 30 June 2009 no option is
potentially
dilutive and hence both the basic and diluted loss per share are the same.
4
Copies of these consolidated financial statements will be sent to shareholders
and will be available on the company website www.chwi.co.uk
This information is provided by RNS
The company news service from the London Stock Exchange
END
IR BXGDCXSDGGCC
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