OPTIMA WORLDWIDE GROUP PLC
NASDAQ FIRST NORTH, COPENHAGEN TICKER: OWG
27 02 2017
INTERIM FINANCIAL REPORT TO 31 DECEMBER 2016
The Company is please to publish its unaudited interim financial statements for the six month period to 31 December 2016.
The attached accounts show revenues in the six month period of £2.7 million (12 months to 30 June 2016, £8.1 million) and a profit for the period of £640,000 (12 months to 30 June 2016, loss of £187,000).
Neal Griffith, Director, comments:
"I am pleased to report to my shareholders that the last 6 months have continued very much in the vein of the previous 12 months with continued development in all areas of the groups' activities.
"Whilst writing my last report the UK had just voted for BREXIT and we experienced a volatile stock market, which had impacted on many of our equity positions. I am pleased to say that since then all holdings have recovered and increased in value from pre BREXIT levels and this trend seems set to continue with the global commodity markets seeing a long awaited rally, which incidentally we had been predicting and preparing for, for a while.
"As the group develops we will continue to focus our efforts and expertise on the Natural Resource sector via our leading subsidiary Brandon Hill Capital which I am pleased to say since writing my last annual report, has gone from strength to strength with current live mandates now being in the region of £10m and the balance sheet having increased in the last 6 months by approximately £2m and we expect to see this increase substantially again by the year end.
"Activity in Oil & Gas and mining has seen a dramatic change in the last 12 months with the Oil price picking up from lows of around $27 per barrel to circa $55 at the time of writing. This has been the case for almost all commodities and as such projects that were un-financeable 12 months ago now are and there is a lot more deployable capital in the sector. We see this trend continuing for the foreseeable future and Brandon Hill is now very well placed to capitalise on the current opportunities.
Financial position
"We have made good progress with the group's development in the first 6 months and our long-term plan is clearly now starting to pay dividends and we expect this to continue. I look forward to reporting to our stakeholders our year-end figures which I am confident will continue in the same positive way.
"I would like to take this opportunity to thank all those involved in the group whether as employees, contractors, suppliers and also our shareholders."
THE DIRECTORS OF OPTIMA WORLDWIDE GROUP PLC ACCEPT RESPONSIBILITY FOR THIS ANNOUNCEMENT
Optima Worldwide Group PLC is the Parent company for the Group. The Group is engaged in the provision of financial and related professional services and holds investments in a number of companies, the principal operating subsidiaries being Brandon Hill Capital and Strand Capital, each being regulated by the UK Financial Conduct Authority ("FCA")
Further information may be found at the Company's website: www.owgplc.com
Company contact details:
+44 (0) 844 997 2082
Certified Adviser:
Keswick Global AG
+43 1 740 408045
Attachments:http://www.globenewswire.com/NewsRoom/AttachmentNg/b3445324-1287-4481-9a8a-78ecd04cc650
