30th Oct 2018 10:37
LONDON (Alliance News) - Limitless Earth PLC said Tuesday its loss for the first half of its current financial year narrowed slightly due to increased finance income.
For the six months to July 31, the investment company reported a pretax loss of GBP55,427 compared to GBP61,320 a year ago.
Administrative expenses surged to GBP83,923 from GBP67,549 but increased finance income to GBP28,496 from GBP6,229 resulted in the loss reduction.
At the end of July, the company's total assets amounted to GBP2.2 million, down from GBP2.4 million a year prior.
Limitless Earth invests in companies whose long-term growth prospects are driven by demographic change and have potential to generate returns through capital appreciation. It said these investments are progressing in line with the board's expectations.
Saxa Gres SpA, a specialist waste recycling industrial business that produces tiles, was highlighted in particular as having "exciting potential".
Looking ahead, Limitless Earth said it understands the importance to keep costs to a minimum to protect shareholder value but also added that it continues to "actively source" further investments.
Shares in Limitless Earth were untraded on Tuesday at 5.62 pence each.