11th May 2015 08:11
LONDON (Alliance News) - Nature Group PLC Monday reported a narrowed pretax loss for 2014 after the previous year was hit by a big writedown, but its operating profit and revenue also fell as its oil and gas unit was hit by contract delays and its maritime business was hit by volume declines.
The provider of port reception and waste treatment services reported a pretax loss of GBP3.0 million for 2014, compared with a loss of GBP10.7 million in 2013 when it had booked a GBP12.9 million goodwill writedown.
However, its operating profit dropped to GBP6.7 million, from GBP7.2 million, as revenue declined to GBP17.7 million, from GBP20.9 million.
"Volatile market conditions and the ongoing investment in our infrastructure have meant that the financial outcome has not reflected the considerable operational progress which we expect to benefit the group in the future," Chairman Nigel Sandy said in a statement.
Nature Group shares were flat at 14.50 pence Monday morning.
By Steve McGrath; [email protected]; @stevemcgrath1
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