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Hellenic Capital FY losses rise

By BFN News | 04:33 PM | Friday 28 May, 2010

Hellenic Capital posts a pre-tax loss of £24,930 for the year to the end of December - up from £11,645 in 2008. Interest receivable for the year was £1,023 (2008: £7,610). Cash in the bank at the end of December was £214,635 (2008: £236,919). Non-executive chairman Konstantinos Papadimitrakopoulos said: "The directors have been seeking potential acquisitions and investment opportunities since the successful flotation of Hellenic Capital PLC on PLUS in 2008 which raised £268,895 gross. "The company has not yet commenced formal due diligence on any particular opportunity but the Board intends to complete a transaction as soon as it finds a suitable target. "The directors remain focused on businesses or companies that they consider have the potential to produce a favourable return for shareholders in both the short and medium terms." Story provided by Business Financial Newswire

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