CBNY repors net loss of $2.35 million for six months ended

Date: January 15 ,2018 

Ciboney Group Limited (CBNY) for the six months ended November 30, 2018 reported a Financial Income increase of 114% to total $30,000 from $14,000 in November 30, 2017.

No exchange loss was booked for the period relative to a loss of $103,000 for the corresponding period in 2017.

Group Operating Expenses totalled $2.26 million for the period relative to $2.34 million for the corresponding period in 2017 a 4% decline.

The company reported net loss before taxation of $2.23 million, this compares with the loss of $2.43 million in 2017.

After taxation of $120,000, the company booked net loss for the period of $2.35 million (2017:$2.55 million)

Net loss per share was 0.41 cents for the period (2017: loss per share of 0.45 cents). The trailing twelve months earnings per a share is $52.90 cents. The number of shares used in the calculations is 546,000,000.  CBNY stock price closed the trading period at a price of $0.12 on January 14, 2019.

Balance Sheet at a glance:

Total Assets as at November 30, 2018 amounted to $16.08 million, down from $50.19 million as at November 30, 2017. The main reason for the decline in total asset ‘Land for resale’ contracting 100% compared to the $44.0 million reported in 2017.

Shareholders’ Equity amounted to $11.77 million, an increase relative to the $50.22 million deficit reported in 2017. As such, the shareholder’s deficit per share stood at 2.16 cents as at November 30, 2018 (2017: 9.20 cents).

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