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Zegona Communications PLC - London-based company focussed on communications and entertainment opportunities - Half-year loss to June 30 narrows vastly as incentive scheme costs drop significantly.
Pretax loss narrows to EUR1.9 million from EUR23.8 million a year prior.
Last year included disposal costs regarding sale of investment in Spanish telecommunications firm Euskaltel SA, Zegona notes. Incentive scheme costs drop to EUR34,000 from EUR21.1 million.
Looking ahead, Zegona states: "We remain patient and disciplined and will not pursue a transaction unless we are confident that it meets our strict financial criteria. We are currently working on a shortlist of attractive opportunities and hope to be able to update our shareholders on the progress we are making in due course."
Current stock price: 81.00 pence, down 1.2% on Thursday
12-month change: down 46%
By Tom Budszus; tombudszus@alliancenews.com
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