21st Jul 2015 09:12
LONDON (Alliance News) - Resources sector investment company CEB Resources PLC on Tuesday reported a narrower pretax loss for the year to the end of April, helped by gains made on the sale of its coal assets.
CEB said its pretax loss for the year was USD122,000, compared to a USD701,000 loss made a year earlier. The group does not generate any revenue.
The loss was narrowed by a USD219,000 gain made on the disposal of CEB's coal investments in Poland and Australia. At the close of the financial year, the company only held a base metals investment in Australia but, since then, has signed an oil and gas joint venture in Indonesia.
CEB shares were down 6.5% to 0.505 pence on Tuesday.
By Sam Unsted; [email protected]; @SamUAtAlliance
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