15th May 2023 14:55
(Alliance News) - Macaulay Capital PLC on Monday reported a loss in its maiden final results, though it expects "greater steps forward" and hopes to be able to present a variety of opportunities to future investors.
Macaulay Capital is an investment company headquartered in Newton Abbot, England. It began trading on the Aquis Stock Exchange Growth Market on July 29, having raised GBP1.9 million from its initial public offering.
Macaulay reported a pretax loss of GBP384,994 between its incorporation on May 13, 2022 to December 31.
Macaulay's income for the period was GBP118.737 and expenses were GBP502,827.
Shares in Macaulay were down 12% at 22.50p each in London on Monday.
Macaulay completed its first transaction in May last year, assisting the buyout of Devondale Ltd's founders by its management team. It continues to manage Devondale's investment portfolio and said it is performing in line with expectations. Macaulay also took over an investment portfolio from Chelverton Asset Management Ltd on March 13, and completed the secondary management buyout of Camloc Motion Control Ltd on March 23.
Chair Lindsay Mair said Macaulay's investment selection process was "time-consuming and often unrewarding but necessary to achieve good outcomes for us and our fellow investors".
"We will continue marketing and introducing "the Macaulay Approach" to high-net-worth individuals and family offices for whom what we do, particularly in a time of rising inheritance tax assessments, should be of great interest," Mair added.
"We are pleased with the progress that has been made to date and fully expect to make greater steps forward in the current year."
By Emma Curzon, Alliance News reporter
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