30th Oct 2015 13:17
LONDON (Alliance News) - Investment company Quoram PLC posted a small annual profit on Friday after it benefited from an uptick on the value of its holding in AIM-listed Plant Health Care PLC, but said it intends to cancel its AIM listing
Quoram said it made a pretax profit of GBP25,000 in the year to the end of June, compared to a GBP688,000 loss a year earlier.
The profit was driven by a rise in the value of its holding in Plant Health Care, the agricultural biological products company, and offset slightly by a loss made on the carrying value of its stake in Hague & London Oil PLC, an AIM-listed oil company.
Quoram said having reviewed a number of strategic options, it has decided its best course of action is to cancel its listing on AIM, which it intends to do in due course. It said the move will help it cut costs.
Quoram shares were untraded on Friday, having last traded at 0.153 pence.
By Sam Unsted; [email protected]; @SamUAtAlliance
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