Highlights

  • PACSCo reported a FY25 loss of USD 28.66 million following Mozambique business disposal.
  • Discontinued operations revenue rose to USD 13.59 million despite disposal-related losses.
  • Mozambique agriculture exit repositions PACSCo as an AIM Rule 15 cash shell.
  • AIM share trading expected to resume following release of annual and interim accounts.

PACSCo Limited (LSE:PACS) released its audited financial results for the year ended 31 March 2025, reflecting continued losses and a major shift in the company’s operational structure. The group recorded a loss of USD 1.56 million from continuing activities in FY25, compared with a loss of USD 1.41 million in the prior year.

Finance costs increased during the period, contributing to a loss before tax of USD 1.56 million. No taxation charge was recorded on continuing activities. Basic and diluted earnings per share from continuing operations widened to (2.17) US cents, from (1.97) US cents in FY24.

Following shareholder approval on 31 March 2025, PACSCo completed the disposal of its Mozambique agricultural businesses to Chepstow Investments Limited. As a result, these operations were classified as discontinued activities, with prior-period comparatives restated.

The overall loss attributable to owners of the company for the year totalled USD 28.66 million, significantly higher than the USD 3.21 million reported a year earlier.

Mozambique Exit Reshapes FY25 Financial Outcome

Following shareholder approval on 31 March 2025, PACSCo disposed of its Mozambique agricultural businesses to Chepstow Investments Limited. As a result, these operations have been presented as discontinued activities, with comparative figures restated.

Turnover from discontinued operations increased to USD 13.59 million in FY25, from USD 10.39 million a year earlier. Loss before tax from discontinued activities was USD 27.23 million, compared with USD 1.92 million in FY24. After recognising a tax credit of USD 0.12 million, the loss attributable to discontinued activities totalled USD 27.10 million.

The loss recognised on disposal of the Mozambique businesses amounted to USD 26.53 million. Overall, the total loss attributable to owners of the company for FY25 was USD 28.66 million, compared with USD 3.21 million in the prior year.

 

 

Strategic Reset and AIM Status

Completion of the Mozambique disposal remains subject to final approval from the Bank of Mozambique, with the long-stop date extended to 31 March 2026. Once finalised, PACSCo is expected to continue trading on AIM as a Rule 15 cash shell.

The company indicated that, following publication of its annual and interim accounts, trading in its ordinary shares on AIM is expected to be restored, with further details to be provided in a subsequent announcement.