IN BRIEF: Caledonian Holdings narrows loss as supports investee AlbaCo
Caledonian Holdings PLC - Bingley, England-based investment company focused on financial services - Pretax loss narrows to GBP595,000 in the six months that ended September 30 from GBP2.7 million a year before. Caledonian has no revenue. The change in pretax loss is due to a smaller loss on fair value movements on investments. This is GBP263,000 in the recent half-year, compared to GBP2.6 million a year before. Net assets rise to GBP3.9 million on September 30 from GBP2.9 million a year before. Chair Brent Fitzpatrick notes that Caledonian made its first investment of GBP1 million into AlbaCo Ltd in June and invested another GBP1 million in October. Also since the end of September, Caledonian secured a GBP3.5 million funding package from Yorkville Advisors Global LP to help support AlbaCo, which is seeking a UK banking license to serve small and medium-sized businesses. Read More