Interim Results

News - 22/12/2014


Unaudited interim results for the six months ended 30 September 2014

Hermes Pacific Investments Plc today reports its financial results for the year ended 31 March 2014.

Chairman’s Statement

I am pleased to report the results of Hermes Pacific Investments Plc (“HPAC” or the “Company”) for the six-month period ended 30 September 2014. During the period the Company had no revenues as it does not have any operating business. The Company has once again carefully controlled its costs.  During the period it has made a loss of £53,000 compared to a loss of £56,000 in the corresponding period last year. At the period end the Company had net assets of £4,165,000 of which cash was £4,066,000.

Review of the Company’s activities

The Company has previously made some investments in line with its investing policy in companies involved in trade finance for emerging countries and also other financial activities operating from the Far East region. These investments have performed satisfactorily.  No further investments were made in the period.

We are continuing to seek opportunities for investing our cash in emerging markets as we believe that these markets offer better prospects than those of the developed markets and given its cash balances, it is in a strong position to take advantage of any suitable investment opportunities as and when they arise.  The plunge in international crude oil prices is forcing tectonic shifts in the global economy. In otherwise turbulent times, the implications of this setback are very unpredictable. We are therefore adopting a cautious approach to making investments

Haresh Kanabar
22 December 2014

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For further information please contact:

Hermes Pacific Investments Plc                                       
Haresh Kanabar, Chairman                                                                       Tel:  +44 (0)  207 290 3340

WH Ireland Limited (Nominated Adviser & Broker)                            
Mike Coe                                                                                                   Tel:  +44 (0) 117 945 3470