Pentagon Protection Plc. said it was encouraged by its interim results after reporting a lower pretax loss and added that it has raised GBP 445,000 via a placing.
The supplier of glass protection sai…
Pentagon Protection Plc. said it was encouraged by its interim results after reporting a lower pretax loss and added that it has raised GBP 445,000 via a placing. The supplier of glass protection said the proceeds from the placing of 89 million shares at GBP 0.005 per share are expected to be used for the payment of future acquisitions. Pentagon said it is looking to make a number of smaller acquisitions and that talks with potential targets continue, although no contracts have been signed. For the six months to end-March 2008, the company“s pretax loss narrowed to GBP 79,311 from GBP 102,853 in the previous year, even though revenues fell to GBP 913,360 from GBP 1.05 million the year before, on a lack of sales in the Far East. “With the planned expansion of our business and the marketing of our new range of energy-saving films, the 2H promises more positive developments”, chief executive Alan Nicholl said