RE: Novacyt - It's Time to Add9 Sep 2021 12:41
A poster on twitter raised a query re resolution 3
resolution 3 resolves to allocate the net accounting loss of 2,561,562 euros for the year ended 31 December
2020 to the retained earnings account, which now represents an amount of 50,257,848 euros,
Larry response
Read the detailed results in detail ?? :
Novacyt SA (the french group) made a loss of 2m.
The profit is being kept by primerdesign ltd.
This is financial optimization.
Taxes are lower in the UK, so better to keep money there, especially with the patent box.
#ncyt did it well.
Interesting also it's quoted in euro's.(my comment) These accountant types are clever.