LONDON (Thomson Financial) - Ragusa Capital PLC said it slipped to
first-half pretax loss on higher administrative expenses, adding the proposed
acquisition of certain utility assets and oil and gas exploration interests in
Argentina represents an "attractive" opportunity for the company.
The company, which will be renamed Andes Energia, posted a pretax loss of
314,311 stg for the six months to June compared with a profit of 198,546 stg in
the year-ago period on nil revenue.
Its administrative expenses rose to 264,134 stg from 171,817 stg.
On Sept 7, Ragusa Capital's shares resumed trading on AIM after it agreed to
acquire "certain utility assets and oil and gas exploration interests" in
Argentina for an initial 72.5 mln usd.
TFN.newsdesk@thomson.com
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