Anemoi International Ltd Reports Financial Results for 2023

Anemoi International Ltd revealed its audited financial outcomes for 2023, showing a continuation of operational losses. The UK-based company registered a group operating loss of £0.9 million, compared to £0.8 million in the previous year. The group loss before taxation remained constant at £0.9 million. Basic and diluted earnings per share were reported at £(0.01), consistent with last year, and the book value per share stood at £0.03. Cash reserves have decreased from £2.2 million in 2022 to £1.6 million in 2023.

Significant non-recurring costs were highlighted, including £49K related to the severance of the former CEO and £180K in non-cash accounting adjustments stemming from a merger. The board expressed disappointment over the slow pace of growth and the lack of suitable Reverse Take Over (RTO) targets, announcing plans to intensify efforts to find an RTO and reduce costs further. They also plan to broaden their acquisition search to include FinTech companies.

The financial position and high reliance on the directors for identifying acquisition opportunities were also discussed, portraying a need for expedient and effective strategic maneuvers to improve the company's standings in the future.