29th Sep 2015 12:31
LONDON (Alliance News) - StratMin Global Resources PLC Tuesday reported a wider pretax loss in the first half of 2015 due to a loss on the disposal of its Jersey subsidiary company, but it generated revenue having not generated any in the first half of 2014.
The graphite production and exploration company said that its pretax loss in the six months ended June 30 widened to GBP1.7 million from GBP1.4 million in the first half of 2014, as it booked a loss on the disposal of its investment in its Jersey subsidiary Stratmin Global Graphite Ltd.
However, StratMin made revenue of GBP152,000, after not generating any revenue in the prior comparative period.
"The company has come through a transformational period to the half year with significant progress at an operational and corporate level. There is now a clear pathway to sustained profitable production at Loharano and with this, we are looking ahead to expansion both within the portfolio and with our joint venture partner, Tirupati," Chief Executive Brett Boynton said in a statement.
Shares in StratMin were trading down 4.2% at 5.15 pence Tuesday afternoon.
By Karolina Kaminska; [email protected] @KarolinaAllNews
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