Fragrant Prosperity Holdings Ltd on Thursday said it is continuing to search for possible acquisition targets as well as ‘additional funding’.

The company reported a pretax loss of £40,363, in the year ending September 30, narrowing from £45,999 the year prior.

The company, was formed to undertake an acquisition of a target company or business, was first admitted to trading on the London Stock Exchange in 2016.

It had a cash in bank balance of £195,324 as of September 30, effectively unchanged from £195,395 the year prior.

‘During the period the company continued to search for potential targets to acquire as well as to seek additional funding. The current economic climate as well as challenging financial markets mean this has taken longer than expected, although the directors are optimistic that suitable funding and resulting acquisition of a company will be forthcoming,’ it said.

Shares in the company are suspended from trading in London.

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