29th Mar 2019 11:40
LONDON (Alliance News) - Mila Resources PLC on Friday reported a reduced loss for the first half of its financial year as administrative costs fell.
For the six months to the end of 2018, the natural resources company posted a pretax loss of GBP104,650 compared to GBP124,732 a year prior. The loss was entirely due to administrative costs.
As it is an exploration company, Mila did not generate any revenue for the half, nor for the previous one.
Looking ahead, Mila, which was formed to conduct a reverse takeover, said it seeks to "broaden its horizons" after the mutual termination of a proposed acquisition of Capital Metals Ltd.
"Mila's current existing investment strategy is to broaden its horizons. Evaluating opportunities across a range of sectors, the company believes will lead to a more efficient process of identifying suitable candidates," the firm added.
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