30th Jun 2015 17:48
LONDON (Alliance News) - Highway Capital PLC Tuesday said its pretax loss widened in the last financial year and said it is continuing to discuss merging with another business.
The company reported a pretax loss of GBP124,290 for the year ended February 28, widening from a GBP103,697 loss a year earlier after administration costs rose. Highway Capital does not currently generate any revenue.
At the end of February, the company reported a cash balance of GBP12,251.
"Highway Capital is a small cash shell, looking to reverse in another company with a suitable business. We have been approached by several such companies and their advisors, and we continue to have discussions with various of them," said the company.
Highway Capital shares were untraded on Tuesday, last trading at 17.00 pence per share.
By Joshua Warner; [email protected]; @JoshAlliance
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