20th Apr 2018 18:15
LONDON (Alliance News) - Investment company Cambria Africa PLC said on Friday it saw a threefold rise in profit for the first half of its financial year as revenue grew slightly.
For the six months to the end of February, Cambria Africa reported a pretax profit of USD1.4 million, up three fold from USD368,000 for the same period the year before, due to increases in Payserv Africa and a swing to profit in Millchem Zimbabwe.
There was also the end of litigation expenses associated with the dispute between Cambria and Consilium Corporate Recovery Master Fund Ltd.
Revenue edged up slightly to USD4.6 million, up 1.0% from USD4.5 million the year before.
Shares in Cambria Africa closed up 4.9% at 1.08 pence on Friday.
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