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Unaudited Interim Results for the six months ended 28 February 2015
Capital for Colleagues, the investment vehicle focused on opportunities in the Employee Owned Businesssector, have issued unaudited interim results for the six months ended 28 February 2015.
Highlights
* Additional GBP 700,000 invested in the period – GBP 450,000 in new
investments and GBP 250,000 in follow-on funding
* Revenues of GBP 304,000 (2014: GBP 19,000), comprising interest receivable
and monitoring fees
* Net assets of GBP 3.5 million as at 28 February 2015 (2014: GBP 0.9
million)
* Investment portfolio now comprises 22 entities, 10 private EOBs and 12
publically traded companies displaying demonstrable employee engagement
* Innovative crowdfunding completed after period end – additional GBP 300,000
raised for investment
* Directors confident that political and economic stability will drive
further growth in the EOB sector
Chief Executive’s Statement (In Full)
I am delighted to report that Capital for Colleagues continues to make excellent progress in implementing our active investment strategy, focusing on companies with attractive fundamentals and a real commitment to employee ownership. Employee ownership is a proven, successful business model, which is recognised to improve productivity and create wealth whilst providing a stable employment environment and the possibility of attractive commercial returns for investors.
In the six months ended 28 February 2015, the Company invested a further GBP 700,000 in new and existing investee companies. I am particularly pleased to report that a number of loans were repaid or restructured during the period, which not only highlights the progress made by the underlying companies but also the strength of our investment strategy and portfolio.
We now have investments across a range of business areas, from civil engineering to accountancy, reflecting the diversity of the EOB space and the breadth of investment opportunities available to the Company.
After the end of the interim period, Capital for Colleagues successfully raised GBP 300,000 through an innovative crowdfunding. These proceeds will be used by the Company for investment in EOBs in accordance with the Company’s active growth strategy.
Financial Results
In the period ended 28 February 2015, the Company generated income of GBP 304,053 (2014: GBP 18,970), principally from interest receivable and other fees associated with our investments. As at 28 February 2015, the Company had net assets of GBP 3.5 million (2014: GBP 0.9 million).
Outlook
Capital for Colleagues’ ability to advise existing and potential EOBs as well as to provide them with funding, means that the Company is exceptionally well placed to create growth in the EOB sector and to benefit from that growth.
We continue to work closely with the Employee Ownership Association and other supporters of employee ownership to promote the commercial and financial benefits of EOBs and we believe that the UK’s relative political and economic stability will continue to foster an environment where EOBs are perceived asimportant generators of equitable and dynamic growth.
John Eckersley
Chief Executive
