21st Aug 2018 11:54
LONDON (Alliance News) - Shares in Marechale Capital PLC dropped on Tuesday as the company reported widened annual loss and lower revenue.
Shares in Marechale were trading down 37% at 1.38 pence each.
For the year to April 30, the investment advice company posted revenue "significantly down" year-on-year at GBP675,000 versus GBP1.0 million.
"The drop in revenues can be partially explained by a delay in closing a number of projects but is more a reflection of the wider market where investor appetite is subdued and transactions are generally taking longer to complete," the company explained.
Pretax loss for the year widened to GBP198,000 compared to GBP78,000 a year prior as the company incurred a GBP118,000 loss after writing down investments in two client companies.
The company said its board continues to consider its future strategy in light of the "disappointing" financial year.
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