21st Mar 2016 12:28
LONDON (Alliance News) - Investment company Concha PLC on Monday said it continuing to look for investments after its loss widened in the first half of its financial year.
For the six months to the end of December, Concha said its pretax loss was GBP384,000, compared to GBP278,000 a year earlier. The group makes negligible revenue, meaning the loss was broadly in line with higher administrative expenses.
The company did not make any investments in the half, having had to terminate a number of discussions, but last week agreed to invest GBP4.0 million to take a small stake in British technology company Ve Interactive Ltd, which makes applications to boost website traffic.
Concha said it will continue to look for acquisition opportunities in line with its investment policy.
Concha shares were up 3.0% to 0.695 pence Monday.
By Sam Unsted; [email protected]; @SamUAtAlliance
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