29th Sep 2014 10:03
LONDON (Alliance News) - Insetco PLC Monday said its loss narrowed in the first half of the year as it cut operating expenses significantly.
The company is currently developing a strategic investment in a Canadian financial services business. It's at a very early stage, but is expected to develop profitable income streams in the near future. Insetco wants to specialize in arranging and structuring securitised products based on senior life settlement policies in the US.
Its net loss in the six months to end-June narrowed to GBP67,781, from a GBP267,378 loss a year earlier, reflecting a cut in operating expenses. It doesn't yet make any revenue.
Insetco shares were down 6.2% at 0.0610 pence Monday morning.
By Steve McGrath; [email protected]; @stevemcgrath1
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