Dublin-listed Prime Active reports €2.4m loss for last year

Prime Active Capital, the Dublin and London listed private equity firm, made a loss of €2.4 million last year.

The group said it had completed the disposal of nearly all of its US trading operations, which equated to 56 mobile phone retail outlets, to North Carolina’s ABC Phones.

In its annual report, it said revenues for 2014 of €25.2 million reflected eight months of actual trading prior to the sale of the US assets.

Chairman Dermot Martin said the loss for the year was a combination of the business performance as well as the exceptional cost of writing off the remaining goodwill plus a profit on the disposal of €2.2 million.

“Following the discharge of such liabilities, the board intends to consider its options for maximising shareholder value including the making of further investments or a distribution to shareholders,” Mr Martin said.

“The group’s investing policy is to invest in and/or acquire companies with clear growth potential,” he added.