30th Jun 2014 17:30
LONDON (Alliance News) - Highway Capital PLC Monday said it narrowed its loss in its most-recent financial year due to lower administrative expenses.
The company reported a pretax loss of GBP103,697 for the year ended February 28, compared with a GBP116,493 loss the prior year.
The company's loss for the year was solely made up of administrative expenses.
The company remains a "cash shell", and the company said it continues to identify and evaluate target companies as it seeks opportunities to maximise the value of the company.
"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," the company said in its statement.
Highway Capital shares were untraded Monday; they were last quoted at 15.00 pence.
By Rowena Harris-Doughty; [email protected]; @rharrisdoughty
Copyright 2014 Alliance News Limited. All Rights Reserved.
Related Shares:
Highway Capital