21st May 2014 12:43
LONDON (Alliance News) - Broca PLC Wednesday reported a narrower half-year net loss, as it cut costs related to administration and the subsidiary it sold earlier this year.
Broca has turned its attention to making acquisitions or investments within the technology sector since changing its name and disposing of 2ergo Ltd for GBP4.5 million in cash and shares to Eagle Eye in April.
Formerly known as 2ergo Group PLC, Broca said it made a GBP1.2 million net loss in the six months ended February 28, compared with a GBP2.2 million net loss in the corresponding period a year earlier. No revenue was made in either period, while administrative costs narrowed to GBP342,000, from GBP403,000, resulting in a correspondingly narrower pretax loss.
Losses relating to 2ergo Ltd, now classified as discontinued operations, narrowed to GBP856,000, from GBP1.8 million.
Broca shares were Wednesday untraded at 1.125 pence.
By Samuel Agini; [email protected]; @samuelagini
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