RNS Number : 7991T
Webis Holdings PLC
29 November 2021
 

7.00am 29 November 2021

Webis Holdings plc

("Webis" or the "Company")

Delay in publication of the Annual Report and Consolidated Financial Statements for the year ended 31 May 2021

The board of Webis hereby notifies shareholders that the completion of the audit of the accounts for the Company, for the year ended 31 May 2021 (the "Accounts") are delayed due to a Covid-19 related issue.  Unfortunately, the completion of an annual report from Deloitte USA reviewing the activities of AmTote - the third-party wagering hub provider to Watch&Wager LLC - is delayed as a result of the pandemic. Our auditors, KPMG, are obliged under standard IFRS audit procedures to use this report to provide the verification required to complete the audit by 30 November 2021. The Board is confident that the verification is merely a matter of procedure only and will occasion no change to the Accounts which are anticipated to contain an unqualified audit report. Accordingly, the Company has agreed with AIM an extension to 28 February 2022 for the publication deadline of its Accounts. Every effort is being made to complete the Accounts as soon as possible and they will be published via RNS thereafter.

Meanwhile, the board of Webis provides the following trading update for the year-ended 31 May 2021 which anticipates a US$ 1.1 million uplift in profitability over the previous year: -

 

Consolidated Statement of Comprehensive Income

For the year ended 31 May 2021


 

 

Unaudited

2021

US$000

 

2020

US$000

Amounts wagered

132,149

105,325

 




Revenue

55,668

43,436

Cost of sales

(49,757)

(38,820)

Betting duty paid

(114)

(83)

Gross profit

5,797

4,533

Operating costs

(5,314)

(4,908)

Impairment movement on trade receivables

7

(18)

Re-organisational and other costs

-

(28)

Other gains / (losses)

2

(29)

Government grant

272

48

Other income

185

212

Operating profit / (loss)

949

(190)

Finance costs

(125)

(94)

Profit / (loss) before income tax

824

(284)

 

Income tax expense

-

-

Profit / (loss) for the year

824

(284)

 

 

Other comprehensive income:



Items that may be subsequently reclassified to profit or loss:



Currency translation differences on disposal of foreign subsidiaries

-

-

Other comprehensive profit / (loss) for the year

-

-

Total comprehensive profit / (loss) for the year

824

(284)

 

Basic earnings per share for profit / (loss) attributable to the equity holders of the Company during the year (cents)

0.21

(0.07)

Diluted earnings per share for profit / (loss) attributable to the equity holders of the Company during the year (cents)

0.20

(0.07)

                                                                                                                                                                                                                

 

Statements of Financial Position

As at 31 May 2021


Unaudited

31.05.21

Group

US$000

 

Unaudited

31.05.21

Company

US$000

 

31.05.20

Group

US$000

31.05.20

Company

US$000

Non-current assets





Intangible assets

12

-

30

-

Property, equipment and motor vehicles

380

6

415

7

Investments

-

3

-

2

Bonds and deposits

101

-

101

-

Total non-current assets

493

9

546

9

Current assets





Bonds and deposits

882

-

882

-

Trade and other receivables

1,896

150

1,256

463

Cash, cash equivalents and restricted cash

5,083

2,142

3,969

1,780

Total current assets

7,861

2,292

6,107

2,243

Total assets

8,354

2,301

6,653

2,252

 

Equity





Called up share capital

6,334

6,334

6,334

6,334

Share option reserve

42

42

42

42

Retained losses

(4,684)

(5,516)

(5,508)

(5,526)

Total equity

1,692

860

868

850

Current liabilities





Trade and other payables

4,995

91

3,749

52

Deferred income

-

-

272

-

Loans, borrowings and lease liabilities

572

500

97

-

Total current liabilities

5,567

591

4,118

52

Non-current liabilities





Loans, borrowings and lease liabilities

1,095

850

1,667

1,350

Total non-current liabilities

1,095

850

1,667

1,350

Total liabilities

6,662

1,441

5,785

1,402

Total equity and liabilities

8,354

2,301

6,653

2,252

 

The information contained within this announcement is deemed by the Company to constitute inside information as stipulated under the Market Abuse Regulations (EU) No. 596/2014 as it forms part of UK domestic law by virtue of the European Union (Withdrawal) Act 2018 ("MAR"), and is disclosed in accordance with the Company's obligations under Article 17 of MAR.

For further information:

 

Webis Holdings plc                  Tel:      01624 639396

Denham Eke

 

Beaumont Cornish Limited      Tel:      020 7628 3396

Roland Cornish/James Biddle

 

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