LONDON (Alliance News) - Fragrant Prosperity Holdings Ltd on Monday said its loss widened in the first half of its current financial year as it continues to seek acquisition opportunities.
The company's nature of operations is to act as a special purpose acquisition company.
Pretax loss widened to GBP122,741 in the six months to the end of September 2018 from GBP39,540 reported for the same period the year before.
At the period end Fragrant Prosperity said it had cash of GBP55,000. The company intends to continue to keep administrative costs to a minimum so that the majority of funds can be dedicated to the review of and potentially investment in suitable projects.
"The board has actively reviewed a number of potential acquisition opportunities across the sector, none of which has met the necessary criteria for selection and continues to review a number of potential acquisition opportunities," said Executive Director Robin Rice.
Fragrant Prosperity shares were untraded on Monday, last closing at 1.25 pence each.