Monthly Archives: May 2015

Euro Tech announced fiscal results for Year 2014

Euro Tech Holdings Company Limited announced financial results for the year period ended December 31, 2014. The British Virgin Islands-registered company reported revenues in the amount of US$18,822,000 – 1.2% increase as compared to US$18,602,000 in the previous fiscal year. Net income of Euro Tech was approximately US$164,000 in fiscal 2014, as compared to net loss of approximately US$18,000 reported in 2013. This year’s income can be attributed mainly to the income contributions from the affiliate companies, Blue Sky and Jia Huan.

In 2014, the BVI company obtained type approval certificate from China’s Classification Society for the 300 Cubic Meters per hour BWTS, which is the requirement by International Maritime Organization for ballast water tanks, and by the end of this year it is expecting to receive various type approval certificates for other ranges. The company also has positive outlook to the growing income contributions from Blue Sky and Jia Huan, which are in the air pollution control business.

Atlas Mara Limited reports unaudited results for the first quarter of 2015

BVI-incorporated financial services group Atlas Mara Limited announced unaudited financial results for the first quarter period ended 31 March 2015. The company reported profit after tax in the amount of US$0.5 mln; net profit of the Southern Africa segment, represented by ABC Holdings Limited, was US$4.7mln during the first quarter of 2015, the West Africa segment, represented by company’s stake in Union Bank of Nigeria plc, reported net profit of US$5.2mln, while the East Africa segment, represented by BRD Commercial Bank Ltd. and BancABC Tanzania, reported a US$2.1mln loss.

BVI company’s loans and advances reported in the first quarter of 2015 were US$1,243.1mln, deposits were US$1,518.1mln, and equity attributable to ordinary shareholders was US$658.7mln. Loan and deposit growth increased by 13 per cent and 26 per cent, and equity decreased by 2 per cent, if compared to the same period of 2014.

In this three month period, Atlas Mara completed the investment in BancABC, in connection with company’s acquisition of the bank in 2014. In February 2015, BancABC shares were delisted from the Zimbabwe and Botswana stock exchanges.