AssetCo (GB:ASTO) has released an update.
AssetCo PLC reports a 65% reduction in operating loss and a total loss of £3.0m for the first half of 2024, indicating a promising move towards profitability through cost reductions and strategic business consolidation. The firm announced a proposed share split, the introduction of a new class of shares, and an upcoming name change to River Global PLC. Additionally, AssetCo has successfully completed the acquisition of Ocean Dial Asset Management, which is expected to contribute an estimated £0.9m in annual net revenue.
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