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LONDON (Alliance News) - Consumer electronic branded-products distributor Ross Group PLC said Friday its pretax loss narrowed in the first half and said it continues to explore new business opportunities for the company.
Ross said its pretax loss came in at GBP7,000 for the six months to June 30, an improvement on the GBP34,000 loss posted a year earlier. The improvement came on the back of the company posting some revenues this year, GBP47,000, having posted no revenues for the first half of 2013. The company did not proposed an interim dividend.
During the period, the group secured a GBP132,000 investment via a share placing with GEM Global Yield Fund, which Ross said will be used as working capital.
The company said it is focused on cost control and minimal expenditure as it works to identify new business opportunities.
Ross Group shares were untraded on Friday, quoted at 1.0 pence.
By Sam Unsted; samunsted@alliancenews.com; @SamUAtAlliance
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