MDY Healthcare cuts 6-month loss 47%
MDY Healthcare, a UK-based strategic investor in health care companies, says that, for the six months ended March 31, 2007, its loss was L1.0 million ($1.97 million), a reduction of 47% from the deficit it recorded in the comparable period in 2006. The firm said that around L600,000 of the loss was due to the impact of a weak US dollar, but added that it is likely to continue to invest in dollar-based assets in the future.
On the negative side, the company also reported that its cash reserves had fallen to L9.4 million, down 45.3% on those it held as of September 30 last year, again partially attributing the decline to currency effects.
Strategic investments increased to L6.3M
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