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Channel Capital Plc Announces Audited Financial Results

By 21/06/2013May 29th, 2022No Comments2 min read

CHANNEL CAPITAL PLC ANNOUNCES AUDITED FINANCIAL RESULTS Approved for Release – June 21st 2013 – Irish Stock Exchange

– FOR USE BY PROFESSIONAL INVESTORS ONLY –

June 21st 2013, London UK – Channel Capital Plc (“CC Plc” or “the Company”) has reported year-end audited results for the year ending March 31st 2013.

Economic Profit1 amounted to $9.8 million, approximately $4.5 million ahead of plan due to improved investment earnings, lower expenses, and debt management activities. The resulting Economic Return on Investment (Economic ROI2) for 2012/13 was 18.4%. CC Plc reported IFRS profit for the year of $62.7 million, which includes a net gain on mark-to- market valuations on the portfolio credit transactions and junior debt of $60.9 million. A variable return of $8 million was paid to Junior Noteholders during the year.

 

FY ending 2009

FY ending 2010

FY ending 2011

FY ending 2012

FY ending 2013

Economic Profits

$9.9mio

$12.9mio

$17.1mio

$11.0mio

$9.8mio

Economic ROI

+18.6%

+24.4%

+32.3%

+20.7%

+18.4%

 

“We are very pleased with these results and the on-going strong economic performance of the Company over the past five years”, said Walter Gontarek, CEO of Channel Capital Advisors LLP (“Channel”). “In addition, portfolio credit quality has continued to perform very well with no credit events experienced across the portfolio for over 2 years. I’d like to congratulate the entire team for their hard work in producing these results”, he added.

About Channel:

Channel, a London UK based credit asset manager authorised and regulated by the Financial Conduct Authority, was founded by a team of credit risk management professionals in 2006. Channel manages nearly $10 billion of portfolio credit transactions. Economic ROI2 for the past 5 years have averaged more than 22% per annum.

 

For further information, contact:

Walter Gontarek, CEO

Channel Capital Advisors LLP

walter.gontarek@channelcapital.co.uk

Tel: 44 207 291 5160

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