olivLaw · European equity research
Fragrant Prosperity Holdings Ltd FPP.L
United Kingdom · London Stock Exchange · Vertical: Listed companies from United Kingdom
Fragrant Prosperity Holdings Ltd is a shell company with no operating business that aims to acquire a target company, preferably in financial technology in Hong Kong, Malaysia or the United Kingdom. In the financial year ended 31 March 2025 it recorded a net loss of £182,934, and after the period end it raised £1,000,000 to support its acquisition strategy.
At the close of 05 Nov 2026, Fragrant Prosperity Holdings Ltd (FPP.L) stock was 0.00 GBP (+0.00% on the day), with market capitalisation 2.6 k GBP, beta 0.33, 52-week range 0.00–0.01 GBP.
Data as of · AI analysis dated · Source: ESEF annual reports and closing prices, computed by olivLaw.
Price history
Loading chart…
Technical reading
- RSI (14)
- 42.2
- weak (30–45)
- Bollinger (20, 2)
- 0.00 – 0.01
- in the lower half of the band · %B 0.30 · band width 50.3%
- SMA 50 / 200
- 0.00 / 0.01
- downtrend (price < SMA50 < SMA200)
- MACD (12, 26, 9)
- -0.00 / -0.00
- MACD below signal
Indicators describe past prices; on their own they do not predict direction. On our history the RSI ≤ 40 filter added no return (see the signals methodology).
Performance
| Company | EURO STOXX 50 | vs EURO STOXX 50 | Vertical median | |
|---|---|---|---|---|
| 1 month | 0.0% | −0.6% | +0.6 pp | — |
| 3 months | −5.8% | −4.2% | −1.6 pp | — |
| 6 months | +2.5% | +4.3% | −1.8 pp | — |
| Year to date | −42.6% | +7.5% | −50.1 pp | — |
| 1 year | −47.7% | +9.9% | −57.7 pp | +6.7% |
| 3 years | unavailable | +49.8% | unavailable | +24.8% |
| 5 years | unavailable | +42.8% | unavailable | — |
Price returns, dividends excluded.
Quarterly results
ESEF annual reports carry no quarters: the results are annual (below).
E/P over time
E/P = trailing-12-month diluted EPS / price at quarter end. E/P is the inverse of P/E and stays defined when earnings are negative.
Fiscal years
| Fiscal year | 2023 | 2024 | 2025 |
|---|---|---|---|
| Revenue | unavailable | unavailable | unavailable |
| Revenue YoY | unavailable | unavailable | unavailable |
| Net income | -126.2 k | -111.9 k | -182.9 k |
| Net income YoY | unavailable | unavailable | unavailable |
| Diluted EPS | -0.00 | -0.18 | -0.29 |
| Diluted EPS YoY | unavailable | unavailable | unavailable |
| net % | unavailable | unavailable | unavailable |
| Free cash flow | unavailable | unavailable | unavailable |
Balance sheet & financial health
Fiscal year 2025 · 31 Mar 2025
- Cash
- 67.9 k GBP
- Financial debt
- unavailable GBP
- Net debt
- unavailable GBP
- Equity
- -831.7 k GBP
- Total assets
- 93.5 k GBP
- Debt / equity
- unavailable
- Current ratio
- unavailable
- ROE
- unavailable
- ROA
- -167.1%
- FCF margin
- unavailable
Financial statements (source on every figure)
Revenue and net income (GBP)
Income statement · GBP
Balance sheet · GBP
| Line | 2023 | 2024 | 2025 | Source (latest year) |
|---|---|---|---|---|
| Cash | 195.4 k | 109.7 k | 67.9 k | esef· 21 Aug 2025verified |
| Total assets | 211.1 k | 125.4 k | 93.5 k | esef· 21 Aug 2025verified |
| Total liabilities | 748.0 k | 774.2 k | 925.2 k | esef· 21 Aug 2025verified |
| Equity | -536.9 k | -648.7 k | -831.7 k | esef· 21 Aug 2025verified |
| Shares outstanding at year end | — | 621.5 k | 630.8 k | esef· 21 Aug 2025derived |
Cash flow · GBP
Computed indicators
Growth
Profitability
Returns
Balance sheet
Liquidity
Cash
Efficiency
Market and valuation
1 indicators that do not apply to the sector.
Valuation
olivLaw classification
- indicators available: 0 of at least 6
- score weight coverage: 0.0% of at least 60%
- valuation methods computed: 0 of at least 1
A scoring methodology on indicators and valuation, not investment advice.
Closing price
05 Nov 2026Source: olivLaw, closing series
Market cap: 2.6 k GBP
Key indicators
Coverage and freshness
The data is older than the freshness threshold.
Score by group
0% · Insufficient data
Estimated value range
unavailable — no valuation assumptions for the reporting currency
Valuation assumptions are editorial choices, not measured; beta is not measured.
Valuation methods
Assumptions (illustrative, editorial)
- Risk-free rate
- 6.5%
- Equity risk premium
- 6.0%
- Beta (default)
- 1.00
- Cost of equity
- 12.5%
- Terminal growth
- 3.0%
Factor scorecard
Insufficient data
Minimum-evidence gate: indicators available: 0 of at least 6; score weight coverage: 0.0% of at least 60%; valuation methods computed: 0 of at least 1
| Factor | Value | Score | Weight used |
|---|---|---|---|
| ROIC · Quality | unavailable | unavailable | — |
| Net margin · Quality | unavailable | unavailable | — |
| FCF conversion · Quality | unavailable | unavailable | — |
| Revenue CAGR 3Y · Growth | unavailable | unavailable | — |
| EPS CAGR 3Y · Growth | unavailable | unavailable | — |
| Net debt / EBITDA · Balance sheet | unavailable | unavailable | — |
| Interest coverage · Balance sheet | unavailable | unavailable | — |
| Current ratio · Balance sheet | unavailable | unavailable | — |
| P/E (TTM) · Valuation | unavailable | unavailable | — |
| EV/EBITDA · Valuation | unavailable | unavailable | — |
| FCF yield · Valuation | unavailable | unavailable | — |
| Shareholder yield (distributions) · Returns | unavailable | unavailable | — |
| Payout ratio (FCF) · Returns | unavailable | unavailable | — |
Factors without a value were dropped; the remaining weights were renormalised.
Score groups
- Balance sheet· partialunavailable · 0/3 factors with a value
- Growth· partialunavailable · 0/2 factors with a value
- Quality· partialunavailable · 0/3 factors with a value
- Returns· partialunavailable · 0/2 factors with a value
- Valuation· partialunavailable · 0/3 factors with a value
A «partial» group is computed from under half of its weight or from one factor: it is not a full assessment of the group.
Memo
FRAGRANT PROSPERITY HOLDINGS LIMITED (FPP.L). Latest full fiscal year: 2025; data up to 2025-03-31.
Financial indicators are unavailable.
Valuation cannot be computed from the available data.
Insufficient data for a verdict (indicators available: 0 of at least 6; score weight coverage: 0.0% of at least 60%; valuation methods computed: 0 of at least 1).
Text generated deterministically from the figures shown; no language model. Not investment advice.
What supports the thesis
No signal among the computed factors. That is not an absence of risk: factors without data were not assessed, and business risks (margins, inventory, demand) are in the source-based analysis.
What contradicts it
No signal among the computed factors. That is not an absence of risk: factors without data were not assessed, and business risks (margins, inventory, demand) are in the source-based analysis.
Not assessed (insufficient data or a ratio without meaning): ROIC, Net margin, FCF conversion, Revenue CAGR 3Y, EPS CAGR 3Y, Net debt / EBITDA, Interest coverage, Current ratio, P/E (TTM), EV/EBITDA, FCF yield, Shareholder yield (distributions), Payout ratio (FCF).
Versus the vertical median
Listed companies from United Kingdom · same country · compared with 40 companies
Multiples and returns vs the median
Companies in the vertical
| Market cap | P/E | ROE | Net margin | Revenue YoY | 1A / 3A | |
|---|---|---|---|---|---|---|
| BATS.LBritish American Tobacco P.L.C. | 104.3 bn | 13.5 | 16.5% | 30.3% | −1.0% | +7% / +88% |
| ABF.LAssociated British Foods PLC | 14.7 bn | 14.3 | 9.2% | 5.3% | −3.1% | −5% / −15% |
| 0EV1.LCarnival PLC | 5.5 bn | 4.1 | 46.7% | 13.4% | +6.4% | unavailable / unavailable |
| BAB.LBabcock International Group PLC | 5.1 bn | 24.7 | 34.7% | 4.1% | +7.2% | −10% / +158% |
| AUTO.LAutotrader Group PLC | 4.8 bn | 16.4 | 60.2% | 47.1% | +3.9% | −13% / −23% |
| BBY.LBalfour Beatty PLC | 4.2 bn | 16.3 | 23.2% | 2.8% | +15.2% | +20% / +160% |
| ABDN.LAberdeen Group PLC | 4.1 bn | 10.8 | 8.0% | 28.9% | −2.1% | +11% / +41% |
| BKG.LThe Berkeley Group Holdings PLC | 3.6 bn | 11.3 | 8.8% | 13.4% | −4.2% | −0% / −22% |
| BME.LB&M European Value Retail PLC | 2.9 bn | 17.4 | 21.2% | 2.8% | +3.7% | +68% / −51% |
| AJB.LAj Bell PLC | 2.4 bn | 22.8 | 49.9% | 33.1% | +18.0% | +8% / +128% |
| ASHM.LAshmore Group PLC | 1.4 bn | 13.9 | 13.1% | 71.6% | −0.1% | +28% / +18% |
| BCG.LBaltic Classifieds Group PLC | 1.2 bn | 23.2 | 15.8% | 57.6% | +6.9% | −99% / −99% |
| APN.LApplied Nutrition PLC | 763.6 m | 36.2 | 41.2% | 19.7% | +24.2% | +71% / unavailable |
| BAG.LA.G. Barr P.L.C. | 671.9 m | 14.4 | 14.4% | 10.8% | +4.0% | −7% / +26% |
| ASC.LAsos PLC | 494.5 m | — | -81.3% | -12.0% | −14.7% | +71% / +8% |
| ALFA.LAlfa Financial Software Holdings PLC | 486.8 m | 16.3 | 61.5% | 23.8% | +15.3% | −28% / +10% |
| AML.LAston Martin Lagonda Global Holdings PLC | 344.3 m | — | -93.4% | -39.2% | −20.6% | −45% / −85% |
| APTD.LAptitude Software Group PLC | 111.3 m | 28.5 | 7.2% | 6.2% | −7.3% | −30% / −23% |
| BMS.LBraemar PLC | 78.3 m | 39.2 | 2.7% | 1.7% | −4.4% | +13% / −11% |
| AMGO.LAmigo Holdings PLC | 9.9 m | — | — | — | −81.9% | +325% / +844% |
| ASBE.LAssociated British Engineering PLC | 605.3 k | — | -19.1% | — | unavailable | unavailable / unavailable |
| AMIF.LAmicorp Fs (uk) PLC | 221.6 k | 0.1 | 27.5% | 9.1% | +8.1% | unavailable / unavailable |
| AAF.LAirtel Africa PLC | — | — | 24.1% | 10.6% | +29.5% | −7% / +164% |
| AAL.LAnglo American PLC | — | — | -19.3% | -20.2% | +4.5% | +30% / +76% |
| ACG.LAcg Metals Limited | — | — | -80.3% | -32.0% | +134.8% | +60% / +63% |
1- and 3-year price returns: for FPP.L from daily closes (the same as the performance table), for the other companies from month-end closes.
olivLaw engine forecast
The world engine ran after the company's latest material disclosure. Probabilities are of TOUCHING a level within the horizon (not closing there) and sit next to the random walk (p_rw), the no-information benchmark.
The engine has no published run for this company yet.
Valuation scenarios (editable assumptions)
Illustrative scenarios
Scenarios are not available. input data missing
AI analysis
AI-generatedAI-generated analysis (Claude) from cited public sources; it may contain errors. Not investment advice. As of 27 Oct 2026 · Model: claude-haiku-5-5.
In brief
Fragrant Prosperity Holdings Ltd is a shell company with no operating business that aims to acquire a target company, preferably in financial technology in Hong Kong, Malaysia or the United Kingdom. In the financial year ended 31 March 2025 it recorded a net loss of £182,934, and after the period end it raised £1,000,000 to support its acquisition strategy.
SWOT
Strengths
- The Company has low administrative costs and has shown the ability to attract new capital after the balance sheet date.
- The directors cite a network of contacts in financial technology, useful for identifying targets.
- The structure without operating liabilities allows capital to be concentrated fully on a single acquisition.
Weaknesses
- The Company has no revenue and continues to incur administrative losses.
- Net liabilities exceed assets, and available capital at the year end was limited.
- There are no audit, remuneration or nomination committees until an acquisition is made.
Opportunities
- A successful acquisition could transform the Company from a structure without activity into an operating group.
- Interest in financial technology in Asia and Europe could produce attractive targets.
- Re-admission of the enlarged group to listing could provide access to broader capital markets.
Threats
- No target has yet been identified, and the search could take longer than expected.
- The need for new share issues could significantly dilute existing shareholders.
- Competition for the same targets from private equity funds could raise acquisition prices.
Risks
- No acquisition identified yethigh
The Company has no target under analysis and does not expect substantive negotiations in the immediate future, which could delay or compromise its strategy.
- Dependence on additional fundinghigh
Given the limited cash balance and net liabilities, the Company remains dependent on new funding to continue its activity.
- Shareholder dilutionmedium
Acquisitions and future financing could be carried out through share issues, affecting existing holdings.
- Concentrated shareholder basemedium
Several nominee holders control a significant part of the capital, which could influence voting outcomes.
- Simplified governancelow
The absence of audit and risk committees could limit independent oversight of the business until an acquisition is made.
Investment thesis
What would need to be true (bull case)
- If the directors identify a suitable financial technology target, the Company could quickly become an operating group with growth potential.
- New capital raised after the balance sheet date could allow several opportunities to be reviewed without immediate cash pressure.
- Re-admission to listing after an acquisition could open access to a broader investor base.
What would break the thesis
- If no target is identified within the expected period, administrative costs could consume available capital without creating value.
- Repeated share issues could heavily dilute existing shareholders without a proportional increase in value.
- Existing net liabilities could limit financial flexibility if the acquisition is delayed or fails.
What to watch
- Announcement of an acquisition target and its terms2026
- Use of the £1,000,000 raised after the balance sheet dateNext annual report
- Level of net liabilities and conversion of convertible loan notes into equityNext annual report
- Any plans to re-admit the enlarged group to listing in London or on another exchangePost-acquisition
Products, market & competition
AI-generatedAI-generated analysis (Claude) from cited public sources; it may contain errors. Not investment advice. As of 27 Oct 2026 · Model: claude-haiku-5-5.
The business
The Company was formed to acquire a target company or business, and currently has no operating assets, its only employees being the directors. Administrative costs are kept to a minimum and funds are reserved for reviewing and potentially investing in suitable projects 1. After an acquisition, management intends to operate the acquired business and pursue value for shareholders, including through complementary acquisitions and later re-admission of the enlarged group to listing 1.
Governance is scaled to the company's size: there are no nomination, remuneration, audit or risk committees until an acquisition is made, and the board as a whole takes all key decisions. The Company has a Standard Listing and does not apply the UK Corporate Governance Code 1.
The Company does not limit its search to one industry or region, but the directors' experience points it towards technology and intellectual property used in financial services, with operations in Europe or Asia 1.
Segments
Acquisition activity (no current operations)
The Company has no operating segment generating revenue. Its activity is limited to identifying and evaluating acquisition targets, funded by existing cash and capital raised after the balance sheet date 1.
Financial technology (target focus)
The stated focus of the search is technology and intellectual property used in financial services, with priority for businesses in Hong Kong, Malaysia or the United Kingdom. This is an objective, not an existing business 1.
Market context
The Company operates in the market for acquiring small and mid-sized companies that are listed or prepared for listing, relying on its own funds and on new share issues to vendors. The stated target value of up to £100 million places it in a segment limited to a small or medium acquisition 1.
The shareholder base is concentrated: several nominee accounts hold 3 per cent or more of capital, and the largest block represented 19.0% of share capital as at 29 July 2025 1.
Trends
- Interest in financial technology in Asia and Europemixed
A focus on technology used in financial services, with operations in Hong Kong, Malaysia or the United Kingdom, could help identify attractive targets if they are available at reasonable prices.
- Digitalisation of financial servicestailwind
Growing use of technology in finance may create acquisition opportunities for companies holding intellectual property in this field.
- Lack of own revenueheadwind
As a company without revenue-generating activity, dependence on existing capital and future funding remains a constraint in the short term.
- Funding cost and shareholder dilutionheadwind
Acquisitions are expected to be paid mainly through new share issues, which could dilute existing shareholders if sufficient value is not created.
Competitive position
The official sources do not identify direct competitors. The Company describes its model as acquisition-focused rather than operating, and the search for a target competes with other shell companies and private equity funds pursuing similar technology businesses 1.
The Company's stated advantage lies in the network of its directors and in its profile after admission to listing, which could give access to acquisition opportunities, although the documents analysed provide no comparative market figures 1.
- Other shell companies (SPACs and shells) seeking acquisitions
The sources do not name specific competitors; this category competes for the same acquisition targets.
- Private equity funds focused on financial technology
They may compete for the same target businesses in Europe and Asia, with greater resources.
- Strategic investors in financial services
They may acquire directly target companies in the same technology niche.
- Other listed financial technology companies
They represent possible targets or competitors for investor attention in the same niche.
News & filings
In the press
No news in our archive over the last 180 days.
Annual reports (ESEF)
- Annual report 202521 Aug 2025
- Annual report 202428 Aug 2024
Sources
- [1] Annual report, fiscal year ended 2025-03-31 (ESEF) · SEC / Fragrant Prosperity Holdings Ltd · 31 Mar 2025
Figures computed by olivLaw from ESEF annual reports and closing prices; the qualitative analysis is AI-generated from cited sources. Not investment advice.