30th Dec 2019 16:46
(Alliance News) - Rockpool Acquisitions PLC reported rise in revenue and profit on Monday, attributable to consultancy services provided to Greenview Gas Ltd and accrued interest on the loan made to the company.
For the six months ended September 30, the company said its revenue rose 44% to GBP36,000 compared to GBP25,000 a year before.
Meanwhile its pretax profit more than doubled to GBP34,984 compared to GBP17,001 in the same period a year ago.
The company said the rise in profit was attributable to consultancy services provided to Greenview Gas and accrued interest on the loan made to the company.
In January 2019, Rockpool announced Greenview had integrated the two acquisitions made and acquired Central Heating Service Ltd for GBP650,000 in cash - funded from a loan with Exworks Capital Fund I LP.
"The business of Greenview Gas continues to make good progress and the plan for turning around the business of the recently acquired Central Heating Services Ltd is being successfully implemented," the company said.
In mid-October, Rockpool agreed heads of terms with a US investor over a GBP1.6 million subscription, of which GBP750,000 would be loaned to Greenview for working capital purposes.
Rockpool Acquisitions shares in London are currently suspended from trading.
By Loreta Juodagalvyte; [email protected]
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