HRC World PLC: AUDITED ANNUAL RESULTS TO 31 MARCH 2023
HRC WORLD PLC
NASDAQ FIRST NORTH, COPENHAGEN
TICKER: HRC
ISIN: GB00BZ3CDY20
31 July 2023
AUDITED ANNUAL RESULTS TO 31 MARCH 2023
The Board of Directors of HRC World Plc (the “Company”), has approved and subsequently are pleased to present its audited financial results for the financial year ended 31 March 2023. The audited financial statements are appended to this announcement and is also available at the Company’s website
The Group recorded slightly lower revenue of US$ 138,000 for the year compared to US$140,000 in the past year. Operational overheads resulted in the loss before tax of US$ 207,000 as compared to profit before tax of US$ 1,899,000 for the year ended 31 March 2022. The loss was reflective of pure operational cost compared to previous years which had sale of equity and recovery of impairment of the investments to support the profits. The operational cost remains reasonable for the time being in anticipation of more business in the future.
Throughout the year, HRC World Plc has continued to provide exceptional restaurant management services to our valued member restaurants. The business outlook remains favourable and member restaurants are gradually experiencing improvement. Although the Company is currently working on developing AI-powered systems to enhance restaurant operations and drive revenue growth through customer spending trend analysis, the system is still in the developmental phase. The Company maintains optimism about revenue and earnings growth in the upcoming year once these initiatives are successfully implemented.
As announced previously, the Directors are not proposing the payment of a dividend.
THE DIRECTORS OF HRC WORLD PLC ACCEPT RESPONSIBILITY FOR THIS ANNOUNCEMENT
About HRC World Plc
HRC World Plc is an England & Wales incorporated public company with registration number 10829936 and is quoted on Nasdaq First North Growth Market (Copenhagen). HRC World provides café management services for developing tourist-based and event-based revenues in member restaurants as well as implementation of HRC Music initiatives.
Further information may be found at the Company’s website:
Company contact details
HRC World Plc
Certified Adviser
Keswick Global AG
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