20th Sep 2018 13:28
LONDON (Alliance News) - Armadale Capital PLC said Thursday that its loss narrowed as it reduced its administrative costs by 13%.
For the six months to June 30, the investment company posted pretax loss of GBP225,000 compared to GBP266,000 a year ago.
Administrative costs reduced to GBP218,000 from GBP252,000 a year prior. The company did not make any revenue in either year.
The company said it remains committed to identifying and investing in African resource projects, which offer prospective upside opportunity.
Armadale Capital shares were trading down 5.2% at 1.38 pence each.
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