13th Apr 2023 17:47
Watchstone Group PLC - cash shell with remaining assets comprising litigation assets, contingent liabilities and cash - Operating loss in 2022 narrows to GBP151,000 from GBP3.7 million a year ago. Pretax loss narrows to GBP40,000 from GBP3.7 million. Notes legal fees of GBP2.1 million, compared to GBP1.1 million a year earlier. Legal fees incurred during 2022 primarily relate to the litigation undertaken by the company against PricewaterhouseCoopers LLP and KPMG LLP, it says.
Looking ahead, Watchstone says: "We will look to prosecute our remaining litigation assets for the optimal return for shareholders. Central costs will continue to be carefully managed at reduced levels consistent with the needs of the organisation."
Current stock price: 20.50 pence
12-month change: down 49%
By Sophie Rose, Alliance News reporter
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