StockMarketWire.com - Cientifica swung into the black in the year to the end of March with an after-tax profit from continuing operations of £291,000 compared with a loss of £2,058,000 last time. The directors do not propose a dividend (2013: nil).

During the year the company disposed of its software operations, changed its name from Avia Health Informatics plc and became an investment company focused on emerging technologies and advanced materials.

As part of this process the company raised £380,000 (before expenses) in October 2013, to enable it to implement its investing policy and to settle various outstanding creditors, including the amount owed under the CVA (which totalled £5,000, before expenses). Since the year end, the company has raised additional equity funds of £100,000 and has commenced the implementation of its investing policy to satisfy the requirements of Rule 15 of the AIM Rules for companies.




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