31st Dec 2021 09:09
Vela Technologies PLC - Bingley, England-based investment firm focused on technology - Reports wider pretax loss of GBP496,000 for the half-year that ended September 30, compared to a GBP63,000 loss a year before. Vela partly blames the disappointing results on its investment in cloud-based payments firm Cornerstone FS PLC, which listed on AIM in April at a price of 61 pence per share but which at the end of September was trading at just 27p. Cornerstone was quoted at 28.50p on Friday.
Despite the challenging first half, Vela is upbeat. "The board remains confident that significant investment opportunities exist for the company going forward and looks forward to the remainder of the financial year being a period in which Vela can utilise the funds at its disposal towards further investments, both new and follow-on investments," it says.
Current stock price: 0.045 pence
Year-to-date change: down 44%
By Will Paige; [email protected]
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