14th Mar 2014 18:31
LONDON (Alliance News) - On-Line PLC posted a narrowed pretax loss Friday despite lower revenues, as administration costs dropped in the half year ended December 31, 2013.
On-Line is an investment company that develops and exploits internet content and whose major holding is an 18.32% stake in investor-information website ADVFN PLC.
On-Line posted a pretax loss of GBP4,000 in the half, narrowed from a pretax loss of GBP5,000 in the year-earlier half, even as revenue declined to GBP36,000 from GBP57,000r, as administrative expenses also dropped.
It said it is optimistic that its pretax loss and operating losses will continue to narrow as it works with ADFVN .
On Monday, ADVFN reported a pretax loss of GBP289,000 in the half year to December 31, 2013, versus a pretax loss of GBP370,000 in the previous year, as revenue rose to GBP4.5 million from GBP4.1 million in the previous year.
ADFVN said it saw a rise in online traffic of over 25% at the start of 2014, compared to the end of 2013, mainly in the UK and US.
Shares in On-Line closed down 9.7% at 15.36 pence Friday. ADVFN shares closed flat at 3.275p.
By Hana Stewart-Smith; [email protected]; @hanassallnews
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