LONDON (Alliance News) - Investment company Ross Group PLC on Thursday said it swung to a profit in the first half as it continues to seek a merger, acquisition or new business opportunity.
The company said its pretax profit for the six months to the end of June was GBP37,000, compared to a GBP7,000 loss a year earlier. The company's revenue rose to GBP76,000, from GBP47,000 a year earlier.
Ross said it remains focused on cost controls and keeping spending to a minimum as it tries to find an appropriate merger, acquisition or business opportunity, though it has yet to identify a deal to make.
The group is not paying an interim dividend, in line with a year earlier.
Shares in Ross were down 6.1% to 1.315 pence on Thursday.
By Sam Unsted; samunsted@alliancenews.com; @SamUAtAlliance
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Ross Grp. (RGP)