Preliminary Announcement - Year Ended 31 March 2022

FLLYR

Mon, May 30 2022 03:40 pm

Southern Charter Financial Group Preliminary Full Year Result for the Year Ended 31 March 2022

The Directors of Southern Charter Financial Group Limited (“the Company”) are pleased to report its financial results for the year ended 31 March 2022.

Financial Results
The Company reported a net loss attributable to shareholders of $164,650 for the year. This compares with a net loss attributable to shareholders of $117,616 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 focus of the Board remains on identifying a suitable business opportunity to invest in and/or acquire. A number of potential initiatives were investigated during the year that were not suitable to progress. New opportunities are being investigated as they are identified or become available. The Company will provide the market with any updates as to material developments in due course.

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