Auction firms shares rise despite operating loss

26 April 2002

Auction firms shares rise despite operating loss

UA Group, the Perth-based business that includes livestock auctions, made an operating loss of £730,827 for the year to Jan 31, 2002, compared with a profit of £42,000 the previous year. Turn-over at £10.1m was down £2.5m.

Despite the dip in performance, which is attributed almost entirely to the effects of foot-and-mouth disease, the companys share price rose 60% during 2001.

"This is a remarkable achievement in any sector in the past year but particularly so for a company with significant exposure to the livestock ind-ustry," said chairman Peregrine Moncreiffe.

Shares in UA group, which are quoted on the Alternative Investment Market, closed last Friday (Apr 19) at 317.5p.

Directors are recommending a total dividend of 5p/ordinary share, with 2p interim dividend already paid. &#42

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