28th Mar 2019 11:17
LONDON (Alliance News) - Wilmcote Holdings PLC on Thursday reported an increase in its loss for the first half of the financial year as it looks for an investment.
For the six months to the end of 2018 the investor, focused on the chemicals sector, posted a pretax loss of GBP1.7 million compared to GBP1.5 million in the comparative period a year ago.
The loss was due to operating expenses and diligence costs from continued pursuit of an investment, Wilmcote added.
The firm did not generate any revenue, as it has no operating businesses.
Looking ahead, Chief Executive Adrian Whitfield said: "We are encouraged by the acquisition opportunities we have identified in progressing our investment strategy and look forward to updating shareholders further in due course."
Wilmcote shares were untraded on Thursday, last quoted at 101 pence each.
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