31st Jul 2019 13:36
(Alliance News) - Landscape Acquisition Holdings Ltd on Wednesday reported a swing to profit in its maiden results as a listed firm, helped by non-repeat of exceptional charge.
The company floated in the London Stock Exchange in November last year after raising USD484 million in its initial public offering, which was priced at USD10 per share.
Landscape Acquisition shares were untraded on Wednesday in London, last closing at USD8.55 each.
The British Virgin Islands-based cash shell swung to profit in the five months to the end of April of USD5.5 million compared to USD57.2 million loss reported in the comparable year ago period. Investment income jumped to USD6.0 million from USD2.6 million.
In the first half of 2018, Landscape Acquisition booked a USD55.9 million non-cash charge related to founder preferred shares and associated warrants, with no such charge recorded in the first half of 2019.