Annual Financial Report
While revenues in 2018 were greatly reduced in comparison to the prior year, this arose for a good reason – management were very much concentrating on securing the acquisition deal with Archipelago Aquaculture Group (“AAG”) which was announced at the end of September. And furthermore, all the work involved in arranging that deal led to much higher international travel costs than Ross Group (“Ross”) usually incurs. In addition to that, the Board felt it prudent to provide funds for litigating a prior unpaid debt – so all these factors all added to the higher cost in 2018.
But given that the years activity resulted in Ross being able to make the AAG announcement, and thereby turn a new page in the Group’s trading history, the directors are entirely satisfied with this year’s result, and look forward to the future with much enthusiasm.