29th Apr 2016 10:27
LONDON (Alliance News) - Tekcapital PLC on Friday reported a wider pretax loss in its last financial year due to booking higher administrative costs, but revenue grew.
The technology and intellectual property services provider said its pretax loss in the year ended November 30 widened to USD1.5 million from USD993,569 the year before, due to an increase in administrative expenses to USD1.9 million from USD1.1 million.
Revenue, however, grew to USD407,420 from USD210,337, with demand for the group's Invention Evaluator service particularly strong. Invention Evaluator delivers reports analysing the technical merits, intellectual property and commercial potential of inventions.
"Having continued to develop its existing business, the board is confident that continued investment in growth is the right policy. We believe this strategy is likely to lead to increased revenue in 2016 as we continue to seize additional opportunities with the potential for adding considerable shareholder value," Executive Chairman Clifford Gross said in a statement.
Shares in Tekcapital were untraded on Friday, having closed at 47.50 pence Thursday.
By Karolina Kaminska; [email protected] @KarolinaAllNews
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