December 14th, 2011
Euro Tech Holdings Company Limited, the company incorporated in the British Virgin Islands and headquartered in Hong Kong, announced its unaudited financial results for the six months ended June 30, 2011. BVI company’s revenues for the reported period were approximately US$9,554,000, this is a 7.8% decrease as compared to approximately US$10,363,000 for the six months ended June 30, 2010.
For the six months ended June 30, 2011, the BVI company reported net income in the amount of US$1,330,000. At the same time, the further drop of revenues from trading business was US$2,139,000.
Company’s operating results changed from the loss for the six months ended June 30, 2010 to a net income for the six months ended June 30, 2011 – principally due to the reduction of selling and administrative expenses of approximately US$428,000.
Posted in BVI company holdings, Financial results of BVI Company Holdings, Unaudited financial results | No Comments »
November 30th, 2011
Tongxin International Ltd, manufacturer of engineered vehicle body structures and stamped parts for the commercial automotive industry, based in China and registered in the British Virgin Islands, announced its unaudited financial results for the nine-month period ended September 30, 2011. For this period, the BVI company reported net revenue of US$73.35 million, compared to net revenue of US$72.33 million in the nine months period ended September 30, 2011. Gross profit of the company was US$6.83 million, – a 109.5% increase from US$3.26 million in the same period of 2010.
For the nine months ended September 30, 2011, Tongxin International reported a net-loss of US$(6.2) million, or US$(0.33) per diluted share, compared to a net loss of US$(0.67) million and income of US$1.37 per share in the same period of 2010.
Also, Tongxin International announced that on 8 November 2011 it has subscribed for further 1,428,571 new shares in Signet Petroleum Ltd, for total consideration of US$5 million, by exercising part of the option granted to Tongxin by Signet on 22 August 2011. The proceeds of the exercise will allow Signet to meet its short term working capital requirements, and seek additional oil and gas assets in line with the business plan.
Signet Petroleum Ltd is a private limited company incorporated on 18 June 2010 under the law of the British Virgin Islands. Since its incorporation, Signet has acquired interests in exploration rights for hydrocarbons in Tanzania, Namibia, Benin and Burundi.
Posted in Unaudited financial results | No Comments »
November 17th, 2011
Talon Metals Corp. announced financial results for the three month period ended September 30, 2011. For the third quarter of the year, the BVI company reported net loss from continuing operations in the amount of US$2.9 million or $0.03 per share (basic and diluted), – as compared to net loss of US$0.4 million, or US$0.01 per share reported for the third quarter of the previous year. For the nine month period, net loss from continuing operations was US$11.3 million, or $0.13 per share (basic and diluted), – as compared to net loss of US$5.8 million, or US$0.11 per share (basic and diluted) for the first nine months of last year.
For the third quarter of 2011, capitalized exploration excluding discontinued operations amounted to US$5.2 million, as compared to US$0.5 million for the same period of the last year. For the nine months ended September 30, 2010, capitalized exploration was US$11.5 million, compared to US$1.5 million for the nine month period last year.
Posted in BVI company interim financial results, Unaudited financial results | No Comments »
November 9th, 2011
Nam Tai Electronics, Inc., the British Virgin Islands-registered and Hong Kong-based corporation working in the sphere of electronics manufacturing and design services, announced its unaudited results for the third quarter ended September 30, 2011.
In the third quarter of the year 2011, company’s net sales were US$147,4mln, 15.6% down as compared to US$174,7mln in the third quarter of the year 2010. Gross profit in the amount of US$8.1 mln in the third quarter of 2011 is a 54.6% decrease from US$17.9mln in the same quarter last year. Gross profit margin in the third quarter of 2011 decreased to 5.5%, down from 10.2% in the third quarter of 2010. Because of lower gross margins, operating income of Nam Tai Electronics was US$0.1mln in the third quarter of 2011, much lower as compared to US$7.3 mln in the third quarter of 2010. Also, in the reported period the BVI company earned net income of US$0.6 mln, down from the US$7.6mln in the third quarter of the last year. Interest income of the company was US$0.6mln, and currency exchange gains were US$0.9mln.
Posted in Unaudited financial results | No Comments »