May 16th, 2012
The British Virgin Islands-registered and China-based corporation China Natural Resources, Inc. released annual results for the year ended December 31, 2011. In the reported year, the BVI company recorded total revenues of CNY148.15 million (US$23.54 million) in 2011, up by 58.70% from the previous year. The operating loss of the BVI company improved from CNY61.31 million (US$9.74 million) in 2010 to CNY25.88 million (US$4.11 million) in 2011; net loss attributable to the company owners was CNY65.98 million (US$10.48 million) in 2011.
Mr. Li Feilie, the Chairman of China Natural Resources, commented on the results of the company: “Identifying undervalued assets and pursuing growth through acquisition and consolidation of small to medium sized coal mines in Guizhou province of mainland China are our competitive edges. We intend to take advantage of the coal mine consolidation opportunity in Guizhou province this year and the year ahead. In view of the continuing economic growth in mainland China, we believe that demand for coal will continue to be robust in the foreseeable future. We are positive about the prospects of the coal mining industry in mainland China.”
Posted in BVI company annual financial results | No Comments »
May 6th, 2012
Global-Tech Advanced Innovations Inc., the BVI-registered holding company engaged in the business segments of home appliances, electronic components and other, announced its financial results for the third quarter of fiscal 2012 – the period ended December 31, 2011.
For the reported period, company’s net sales were US$44.2 million, an increase of approximately 81% – compared to US$24.4 million for the same quarter in fiscal 2011. Net income for the third quarter of fiscal 2012 was US$3.3 million, or US$1.09 per share, as compared to a net loss of US$1.5 million, or US$0.48 per share, in the third quarter of fiscal 2011.
For the nine months ended December 31 2011, net sales of the BVI company were US$103.1 million, up approximately 37% when compared to US$75.2 million in the corresponding nine-month period in fiscal 2011. In the first nine months of fiscal 2012, net sales of home appliances, electronic components and EMS revenues increased approximately 60%, 25% and 5%, respectively, compared to the corresponding period in fiscal 2011. Net income for the first nine months of fiscal 2012 was US$2.9 million, or US$0.97 per share, compared to a net loss of US$1.5 million, or US$0.51 per share, for the same period of fiscal 2011.
Posted in BVI company interim financial results, Unaudited financial results | No Comments »
April 30th, 2012
Orca Exploration Group Inc., an international public company registered in the British Virgin Islands, announced the financial results for the year ended 31 December 2011. For this period, the company reported 27% increase of proven reserves, and 22% increase of probable reserves. Also, the sales of Additional Gas increased by 30%, which resulted in operating revenue of US$46.4 million. Working capital increased by 7%, from US$52.4 million to US$56.0 million. Funds from operations before working capital changes increased by 9%.
In 2011, Orca Exploration’s revenues were US$45.9 million – an increase by 18% as compared to US$38.8 million in 2010. The 2011 revenue increase was limited by the fact that brought forward costs had been recovered in the first half of 2011. This reduced the percentage of net revenue. BVI company’s total cost recovery share will rise in 2012 as the funds were invested by Orca in the current drilling programme.
The company finished the year with cash of US$34.7 million and no debt. The revenue growth was fuelled by Additional Gas sales in 2011 which were made possible by an infrastructure system re-rating.
Posted in BVI company annual financial results | No Comments »
April 20th, 2012
CIC Energy Corp., the BVI company listed on the Toronto Stock Exchange and the Botswana Stock Exchange, reported financial results for the first quarter 2012 – the three month period ended February 29, 2012. The BVI company reported net loss of US$1,606,593 or US$0.03 per share (basic and diluted) for the same period last year. The first quarter of 2012 was BVI company’s first reporting period under International Financial Reporting Standards.
Capitalized project costs are US$165,601,367 , with capitalized project costs for the quarter ended February 29, 2012 totaling US$779,162. CIC Energy has a current treasury of approximately CDN$17.3 million and has 58,012,127 shares outstanding and 75,958,575 shares fully diluted including 13,061,448 warrants which have not vested.
Posted in Financial results of BVI Company Holdings, Unaudited financial results | No Comments »