MAC Alpha says confident in ability to execute strategy as loss widens

MAC Alpha Ltd on Wednesday said discussions are yet to result in the appointment of a management partner or the completion of a platform acquisition, as it posted an increased loss.

The London-listed acquisition vehicle said its pretax loss widened to £334,543 in the financial year ended June 30 from £285,528 a year ago.

Administrative expenses increased to £342,074 from £306,135, while finance income fell 63% to £7,531 from £20,607.

Looking ahead, MAC Alpha said: ‘The directors remain highly confident that the listed status and flexible structure of the company will provide an attractive platform from which to appoint an experienced management partner and execute a buy-and-build growth strategy.’

MAC Alpha shares were flat at 175.00 pence each on Wednesday afternoon in London.

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