27th Sep 2013 14:16
LONDON (Alliance News) - AfriAg PLC Friday said its pretax losses narrowed in its first-half on lower administrative expenses.
The agricultural transport company said its pretax losses narrowed to GBP80,431 from GBP305,022 for the six months ended June 30.
The company is yet to post any revenues.
The savings were made in administrative expenses, which fell to GBP80,431 from GBP109,772.
The company said it completed the purchase of a 40% equity interest in AfriAG South Africa and completed a GBP600,000 placing during the period.
AfriAG shares were up 1.59% to 1.6 pence Friday.
By Tom McIvor; [email protected]; @TomMcIvor1
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