1st Oct 2013 09:12
LONDON (Alliance News) - Antisoma PLC Tuesday saw rises in revenues and pretax profits in its first full year trading as an investment company on AIM.
For the year ended June 30, the company posted a pretax profit of GBP622,000, up from GBP424,000 in the previous year. The company had revenues and returns on its portfolio of GBP777,000, up from GBP661,000 in the previous year. The company had net assets of GBP13.5 million as of June 30, up from GBP12.9 million.
Antisoma cancelled its listing as a biotechnology development group when it was admitted to AIM in January 2012, and the company plans to change its name from Antisoma to Sarossa Capital PLC to reflect its new business model. It will propose this name change at its annual general meeting.
Antisoma holds three portfolio investments on AIM, GVC Holdings PLC, Silence Therapeutics PLC and Plant Health Care PLC.
The company said that it expects another positive current year, but warned that the potential for volatility in capital markets remains. As a result it would maintain its selective investment approach, Antisoma said, and run a low cost-base.
Shares in Antisoma were trading down 4.8% at 1.50 pence Tuesday morning.
By Hana Stewart-Smith; [email protected]; @HanaSSAllNews
Copyright 2013 Alliance News Limited. All Rights Reserved.
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