MIDI plc – Approval of Financial Statements
MIDI plc approved the audited consolidated financial statements for the year ended December 31, 2020. The board resolved that these shall be submitted for approval of the shareholders at the forthcoming Annual General Meeting to be held on June 17, 2021.
Statement of profit or loss
Revenue
2019 | 2020 |
€27.7 million | €2.8 million |
Profit before tax
2019 | 2020 |
€11.2 million | €1.6 million |
Operating profit/loss
2019 | 2020 |
€11.7 million | -€1.2 million |
Earnings per share
2019 | 2020 |
€0.038 | -€0.010 |
Statement of financial position
Total assets
2019 | 2020 |
€235 million | €228 million |
Total liabilities
2019 | 2020 |
€131 million | €126 million |
Dividends
The board did not recommend a dividend payment in respect of the year ended December 31, 2020, consistent with the position adopted in 2019. The aim is to preserve the Group’s cash resources taking into account projected liquidity demands over the coming months. A net dividend of €0.008 per share, amounting in total to €1,713,279 was paid during 2019 in respect of the financial year ended December 31, 2018.
Outlook
Taking cognisance of the short-term funding arrangement together with the Group’s long-term liquidity and capital management programmes, the directors have a reasonable expectation that the Group and Parent Company have adequate resources to continue in operational existence for the foreseeable future.
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