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Alliance News


Safe Harbour Narrows Annual Loss, Continues Search For Acquisition

Wed, 12th Jun 2019 18:51


(Alliance News) - Safe Harbour Holdings PLC said Wednesday it remains active in pursuing acquisition targets after listing on London's AIM in March 2018.

Safe Harbour listed in March 2018 with the intention of acquiring assets in B2B distribution or business services.

In 2018, the company reported a pretax loss of GBP2.3 million compared to GBP2.5 million in 2017. At June 11, the company had GBP25.9 million in cash.

Safe Harbour listed on AIM in March 2018, raising GBP22.7 million.

Since admission, the company said it has "actively pursued" its strategy exploring several potential platform acquisition opportunities.

"We continue to focus on identifying a platform acquisition that meets our target criteria. The combination of a broad universe of potential assets in attractive sectors and a highly disciplined investment approach gives me confidence in our ability to build a world-class, market-leading business that delivers long-term compounding returns for our shareholders," said Chief Executive Rodrigo Mascarenhas.

The company is looking for a "platform asset" with an enterprise value of between GBP250 million and GBP1.5 billion that operates in the UK, Europe or North America.

By Paul McGowan; paulmcgowan@alliancenews.com

Copyright 2019 Alliance News Limited. All Rights Reserved.

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