10th Nov 2020 16:08
Online Blockchain PLC - blockchain-based products developer - Posts narrowed GBP201,000 pretax loss for its financial year ended June 30, narrowed from a GBP666,000 loss the year before. This as revenue more than doubles to GBP109,000 from GBP50,000 and total administrative expenses fall to GBP250,000 from GBP493,000. Carrying value for Encryptid Gaming Inc investment reduces to GBP18,000 from GBP36,000 as development programme slows due to "technical difficulties", with investment by Online Blockchain not increased as originally intended. Holds 18% ADVFN PLC stake.
Chief Executive Clement Chambers: "We continue to work with our investment in ADVFN and assist it with its growth as well. The prospect of ADVFN continuing to grow in the medium term provides the incentive to go on concentrating on this business in the immediate future.
"Should other investment opportunities present themselves the directors will investigate them appropriately."
Current stock price: 18.74 pence; down 17% on Tuesday
Year-to-date change: up 39%
By Anna Farley; [email protected]
Copyright 2020 Alliance News Limited. All Rights Reserved.
Related Shares:
ADVFNOBC.L