Beacon Rise continues to eye acquisitions of UK or overseas businesses

Beacon Rise Holdings PLC on Friday reported a drop in cash balances and a widened pretax loss as it remains on the hunt for acquisitions.

The London-based shell company reported a pretax loss of £134,792 in the six months to June 30, widened from £121,002 a year prior.

Cash balances at June 30 were £150,134, deteriorating from £344,576 a year ago.

Beacon Rise said it continues to seek acquisitions of UK and overseas businesses or assets with operations in the sectors that can contribute greater benefits to shareholders.

This could be by way of minority or majority investments, or full acquisitions where it is in the interests of shareholders to do so, it added.

Gross assets fell to £190,836 from £269,092 and net assets to £151,811 from £234,166.

Shares closed flat at 75.0 pence each in London on Friday.

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