LONDON (Alliance News) - Auctus Growth PLC on Monday said its loss widened slightly in 2018 due an increase in listing costs.
The company reported a pretax loss of GBP47,708 for 2018 compared to GBP35,861 a year earlier, due to an increase in operating expenses, associated with maintaining the company's listing.
During 2018, Auctus said it continued to evaluate a number of potential acquisition opportunities, but has not found a target company that will provide returns for the its shareholders.
"I am very conscious of our lack of performance in regards to securing a suitable reverse takeover candidate," said Chair Malcolm Burne.
"I can confirm that the board is currently assessing a potential transaction and whilst there can be no guarantee the transaction will proceed the board is encouraged by the initial due diligence being carried out," added Burne.
Auctus shares were untraded on Monday, last closing at 32.00 pence each.