Business
Interim Results for six months ended 31 May 2024
Interim Results for six months ended 31 May 2024.
About this update from Logistics Development Group Plc
[{"type":"text","content":"\n\nLogistics Development Group plc\n \n(the \"Company\" and, with its subsidiaries, the \"Group\")\n \nInterim Results for six months ended 31 May 2024\n \nLogistics Development Group plc, the AIM-quoted investing company, announces its unaudited interim results for the six months ended 31 May 2024.\n \nSummary for the reporting period\n \nFixtaia Limited (\"Fixtaia\") is the Company's wholly-owned subsidiary vehicle for investments made by the Company. All references to investments are those held by Fixtaia. Details of the investments held at 31 May 2024 are listed below:\n \n· Finsbury Food Group (\"Finsbury\") is a speciality bakery business, producing and selling high-quality bread and cakes to food retailers and foodservice markets across the UK and Europe. Its product portfolio consists largely of either essential bakery products (e.g. organic & artisan bread, buns & rolls) or event-related purchases (e.g. brand licensed celebration cakes for parties, especially for children). The Company owns 27.5% of Finsbury through its interest in Frisbee Bidco Limited (an entity ultimately owned by funds managed by DBAY Advisors Limited (\"DBAY\")), the Company's investment manager), which acquired Finsbury in a take-private transaction that completed during November 2023.\n \n· Alliance Pharma plc (AIM: APH LN) (\"Alliance\") is an international healthcare group founded in 1996 and headquartered in the UK. Alliance acquires, markets and distributes consumer healthcare and prescription medicine products. At the period end the number of Alliance shares held by the Company was 64,353,781. This represents 11.9% of Alliance's issued share capital and was acquired for a consideration of £38.2m.\n \n· SQLI S.A. (ENXTPA: SQI) (\"SQLI\") is a digital commerce and services agency. The Company has a see- through stake in SQLI, held in Synsion TopCo Limited (\"Synsion\") which is part of a group of private holding companies formed by DBAY. At the period end the Company had a holding of 1,039,419,772 Synsion shares representing an indirect holding of 9.1% of SQLI.\n \n· The Company made a partial divestment during the period of Mission Group plc (AIM: TMG LN) (\"Mission\"). Mission operates a marketing agency and focuses o...