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LONDON (Thomson Financial) - Felix Group PLC posted a wider first-half
pretax loss and said it plans to acquire a profitable trading business within 12
months failing which the London Stock Exchange will suspend the company from
AIM.
The company reported a pretax loss of 12.6 mln stg compared with 2.4 mln
loss a year ago.
Revenue rose to 115,000 stg from 24,000 stg a year earlier.
The company, having effectively divested itself of its trading business, is
now an investing company, which must state its investing strategy going forward
and implement the same.
On Jan 14, the company said its investing strategy will be to acquire a
currently and historically profitable trading business which is cash generative
and capable of organic growth or growth by acquisition.
Felix Group said it remains confident of completing an acquisition within
the required timescale.
TFN.newsdesk@thomson.com
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