(Alliance News) - Fandango Holdings PLC on Tuesday reported a narrowed loss, as it continues to work on a potential acquisition.
Fandango is an investment company with the original primary objective of undertaking a single acquisition of a target company, business or asset in the industrial or service sector.
The pretax loss for the six months ended February 28 was GBP93,000, narrowed from GBP162,000 for the same period a year before.
Looking ahead, Fandango has entered a non-binding heads of terms with a group of companies which are involved in construction, civil engineering, concrete and aggregates. The proposed acquisition is subject to the completion of due diligence, documentation and regulatory requirements.
Shares in Fandango Holdings are currently suspended from trading in London.
By Amrit Sahota; newsroom@alliancenews.com
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Fandango Holdi (FHP)