29th Jul 2015 10:58
LONDON (Alliance News) - AIM-listed investing company Teathers Financial PLC on Wednesday said its pretax loss for the financial year to the end of April widened slightly.
The company said its pretax loss was GBP172,625, compared to a GBP149,241 loss a year earlier. It produced no revenue in the 2015 financial year, having made GBP88,891 the year earlier.
Teathers was created in February this year after buttons company CA Sperati PLC sold off its operating businesses and transformed into an investing company. Teathers had initially said it would focus on the oil and gas industry but has since made investments in financial technology businesses.
The company is also working on the launch of its Crowd Equity Service app, which will provide investors with access to share placings and initial public offerings. Teathers is currently in the process of seeking a partner for the app and expects it to become functional in the next couple of weeks.
Teathers shares were up 10% to 2.475 pence on Wednesday.
By Sam Unsted; [email protected]; @SamUAtAlliance
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