Preliminary Announcement - Year Ended 31 March 2021

FLLYR

Mon, May 31 2021 02:43 pm

Southern Charter Financial Group Preliminary Full Year Result for the Year Ended 31 March 2021.

The Directors of Southern Charter Financial Group Limited (“the Company”) are pleased to report its financial results for the year ended 31 March 2021.

Financial Results
The Company reported a net loss attributable to shareholders of $117,616 for the year. This compares with a net loss attributable to shareholders of $159,877 for the previous year.

The financial results consisted mainly of expenditure relating to the maintenance of the listed company and interest earned on short term cash deposits, as well as activities related to work undertaken on evaluation of suitable businesses for acquisition.

Future Growth Strategy
The Company remains in a position with a strong balance sheet which includes significant cash resources. The Company has considered a number of possible acquisitions and the Board intends on securing a suitable acquisition prior to the 31 March 2022 year end. The Company will seek shareholder approval as required to complete any transaction.

On behalf of the Directors of Southern Charter Financial Group the Company extends its thanks to the shareholders for their support of the Company.