AX Investments report improving operating results

AX Investments plc registered a loss after taxation of €10,527 for the first six months of the year. The company said in an announcement that there are “good indications that the impairment charge incurred in 2009 on the company’s investment in Suncrest will be partly reversed at the year end.”

The company’s principal activity is to act as a finance and investment company, in particular the financing or re-financing of the funding requirements of related companies.

The AX Group’s core hospitality companies performed well during the first six months of the financial year, the company said in its announcement. “Operating results show an improvement over the same period last year. Prospects for summer 2010 are encouraging with good increases expected over the 2009 summer performance. This is in line with local industry trends and projections.”