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(Alliance News) - MAC Alpha Ltd on Tuesday reported a widened loss in its latest financial year due to increased administrative expenses, and said it continues to develop opportunities with potential management partners.
The London-listed acquisition vehicle said its pretax loss for the year ended June 30 was GBP323,463 compared with a GBP266,043 loss the prior year. Its basic and diluted loss per share however narrowed to 36.25 pence from 52.97p.
MAC Alpha said administrative expenses increased 25% during the period to GBP331,885 from GBP266,043. This was mainly due to professional support expenses more than doubling to GBP288,477 from GBP131,842.
MAC Alpha did not declare a dividend, saying that it will not decide its dividend policy until it has acquired a trading business. It added that "in any event, [it] will only commence the payment of dividends when it becomes commercially prudent to do so."
MAC Alpha said platform acquisition talks with potential management partners "remain active," and that its directors continue to identify and develop opportunities across multiple sectors.
The firm said that its listed status and structure, meanwhile, "position it well to capitalise on these opportunities in the current market environment."
MAC Alpha shares were untraded in London on Tuesday around midday. They closed at 175.00 pence on Monday.
By Emma Curzon, Alliance News reporter
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