BGI reports its Preliminary Results

27/11/2019


NZX Release
Preliminary Results

BLACKWELL GLOBAL HOLDINGS LIMITED – BGI reports its Preliminary result for the 6-month period
ended 30 September 2019.
Ends



For more information please contact:
Mark Thornton
Chief Executive Officer
+64 9 302 2618

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1 
 
Blackwell Global Holdings Limited (NZX: BGI) 
 
Half year preliminary unaudited announcement for the 6 months ended 30 September 
2019 
 
Commentary 
AUCKLAND, New Zealand, 25 November 2019 – The Board of Blackwell Global Holdings Limited 
(NZX: BGI) is pleased to announce the preliminary unaudited half year results of the business for the 
6 months ended 30 September 2019. 
 
Results for Announcement to the Market 
 
Reporting Period 6 months to 30 September 2019 
Previous reporting period 6 months to 30 September 2018 
 
 
Amount (000s) Percentage change 
Revenue from ordinary activities $NZ336 44.2% 
Loss from ordinary activities after tax 
attributable to security holder 
$NZ(324) (4.8)% 
Net profit attributable to 
shareholders 
$NZ(324) (4.8)% 
 
Interim/Final Dividend Amount per share Imputed amount per 
share 
The Company does not propose to pay 
a dividend at this time. 
Not applicable Not applicable 
 
Record Date Not applicable 
Dividend Payment Date Not applicable 
 
Comments: See below 
 
 
 
 
 
 

2 
 
Blackwell Global Holdings Limited (NZX: BGI) 
 
Half year preliminary unaudited announcement for the 6 months ended 30 September 
2019 
 
Results 
 
During the course of the first 6 months of the financial year the Group’s focus has been on: 
 
 continuing to develop its’ internal operational infrastructure to provide a platform for 
growing its finance company operations; 
 deploying its funds towards good quality, moderate margin loan receivables. To this end, the 
Group has to date: 
‐ funded fifteen separate loan facilities; 
 deployed total funds to date of $9,706,245 with loans structured across a mix of capitalised 
interest arrangements, and interest only loans. The loans have all been secured by first 
ranking mortgage securities over quality real estate assets; 
 Further developing a bespoke investment/funding structure whereby the Group can 
facilitate investment by third party investors into loan facilities procured and managed by 
the Group; 
 
The Group’s revenue comprises interest and fee income from mortgage lending activities. 
 
New funding 
 
The ongoing challenge for the Group in respect of growing its finance company operation is the 
ability to continue to raise debt finance from third party investors which can then be deployed 
towards funding loan receivables, and generating a profit margin for the Group. The Group is 
continuing to explore innovative new initiatives to secure more funding with a view to aggressively 
growing the finance company operation in the future. 
 
Loan book 
 
The loan book as at 30 September 2019 was $2.04 million. All loans were secured by first mortgages 
over residential properties. The average lending to value ratio (LVR) was very low at an average of 
52%. All loans are current with no past‐due assets. 
 
Other matters 
 
The group has adequate cash reserves to meet ongoing needs for the foreseeable future, but lending 
growth is required to increase revenue, and this requires additional funding from the major 
shareholder and attracting new investors in the SPV model. 
 
 
 

3 
 
Earnings per Share and Net Tangible Asset per security 
The earnings per share are shown below the Consolidated Statement of Comprehensive Income on 
page 4 below. The net tangible asset backing per security is shown below the Consolidated 
Statement of Financial Position on page 6. 
 
Audit  
The consolidated financial statements shown below have not been audited nor reviewed by the 
Group’s auditor. 
 
Future Events 
 
Event Date 
Interim report due 31 December 2019 
 
 
ENDS 
 
Authority for this announcement 
Mark Thornton  
Chief Executive Officer 
Ph: 021 723766 
mark.thornton@nzf.co.nz 
Date of release: 25 November 2019 
 
 
 
 
 
 
 
 
 
 
 
 
 
 

4 
 
Consolidated Statement of Comprehensive Income
Blackwell Global Holdings Limited
For the six months ended 30 September 2019
 
 
 
  

5 
 
Statement of Changes in Equity
Blackwell Global Holdings Limited
For the six months ended 30 September 2019
 
 
  

6 
 
Consolidated Statement of Financial Position
Blackwell Global Holdings Limited
As at 30 September 2019
 
 
  

7 
 
Consolidated Statement of Cash Flows
Blackwell Global Holdings Limited
For the six months ended 30 September 2019
 
 
 
 
 
 
 
 
 
 
 
 
 

8 
 
Reporting of Segments 
Operating segments are reported in the manner consistent with the internal reporting provided to 
the chief operating decision‐maker.  The chief operating decision maker is identified as the Board of 
Directors.  The Group internally reported as a single operating segment to the chief decision‐maker. 
 
International Financial Reporting Standards  
These interim financial statements are condensed in accordance with NZ‐IAS‐34 Interim Financial 
Reporting.  
 
Accounting Policies  
The accounting policies and methods of computation adopted in the preparation of these financial 
statements are the same as those adopted in the preparation of the annual financial statements for 
the year ended 31 March 2018. Those policies are set out in the annual report for the year ended 31 
March 2018. There have been no changes to those accounting policies.

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Template
Results announcement
(for Equity Security issuer/Equity and Debt Security issuer)
Updated as at 8 May 2019


Results for announcement to the market
Name of issuer Blackwell Global Holdings Limited
Reporting Period 6 months to 30 September 2019
Previous Reporting Period 6 months to 30 September 2018
Currency NZD

Amount (000s) Percentage change
Revenue from continuing
operations
$NZ336 44.2%
Total Revenue $NZ336 44.2%
Net profit/(loss) from
continuing operations
$NZ(324) (4.8)%
Total net profit/(loss) $NZ(324) (4.8)%
Interim/Final Dividend
Amount per Quoted Equity
Security
It is not proposed to pay dividends
Imputed amount per Quoted
Equity Security
Not applicable
Record Date Not applicable
Dividend Payment Date Not applicable
Current period Prior comparable period
Net tangible assets per
Quoted Equity Security
$0.15 $0.28
A brief explanation of any of
the figures above necessary
to enable the figures to be
understood
This announcement is extracted from BGI’s unaudited preliminary
financial statements as at and for the six months ended 30 September
2019. A copy of these unaudited interim financial statements is
attached to this announcement.
Authority for this announcement
Name of person

authorised
to make this announcement
Mark Thornton
Contact person for this
announcement
Mark Thornton
Contact phone number 021 723766
Contact email address Mark.thornton@nzf.co.nz
Date of release through MAP

7/11/2019

Unaudited financial statements accompany this announcement.