24th Dec 2019 09:42
(Alliance News) - Vordere PLC on Tuesday said it is now focused on lifting the suspension of its shares from trading in London amid sharply widened loss in the first half of its current financial year.
The German property investment & development company said its pretax loss widened in the six months to the end of September to GBP10.4 million from GBP1.3 million reported a year earlier, amid a net loss of GBP8.0 million from fair value adjustment on property.
Meanwhile, revenue grew by 43% to GBP115,587 from GBP80,670 a year before.
In July, Vordere requested the suspension of its shares to assess accurately its financial position. That suspension continues.
"There is still no certainty that the suspension of the company's shares will be lifted. Your board continues to consult with its advisers and the Financial Conduct Authority," said Chair Peter Hewitt.
He added: "Your board is currently undertaking a comprehensive review of both how the company operates, its property operations, listing and future strategy and I hope to be in a position to report our findings to shareholders by the end of the first quarter."
By Evelina Grecenko; [email protected]
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