22nd Sep 2015 10:42
LONDON (Alliance News) - Nature Group PLC on Tuesday reported a narrowed pretax loss for the first half of 2015 as the company works to the turn the business around following a disappointing year in 2014.
The waste treatment company said its pretax loss in the six months to June 30 narrowed to GBP178,087 from GBP1.0 million in the first half of 2014, as revenue grew to GBP9.6 million from GBP9.1 million.
Nature is starting to pick itself up after a difficult 2014 in which it suffered losses from operating the M/V Crystalwater in Gibraltar. It sold the waste water collection and storage vessel during the first half and said it is working on a business plan to re-establish a new and sustainable service model in Gibraltar.
"The first half of the year shows an encouraging improvement over last year, however still only about break even. We are confident that, with the actions we are undertaking, we are well positioned for the remainder of this year and beyond. Our Oil & Gas division is gaining traction; we have reviewed, and are addressing proactively the issues in our Maritime division, most notably Gibraltar. Importantly, we have taken concrete steps in building a strong, experienced management team to deliver the growth and returns our shareholders expect," Chairman Nigel Sandy said in a statement.
Shares in Nature Group were trading up 1.0% at 12.50 pence Tuesday morning.
By Karolina Kaminska; [email protected] @KarolinaAllNews
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