28th Aug 2014 12:03
LONDON (Alliance News) - Tekcapital PLC Thursday posted a widened pretax loss in the half-year to the end of May in its first results since floating on AIM in April, hit by listing costs.
The technology and intellectual property services company posted a pretax loss of GBP575,466, widened from GBP19,412 in the previous year, due to costs from its listing offsetting revenues of GBP30,639.
The company said it had made "significant progress" in making a foundation for future growth during the first-half by opening small office hubs in Miami, London and Singapore, hiring new sales staff and expanding its scientific advisory board.
It now has 10 retained clients, it said, including a mix of private and public companies.
Additionally, it upgraded its global innovation discovery network search engine, which it said is capable of identifying intellectual property acquisition opportunities. Following the year-end it acquired InventionEvaluation.com, which provides an analysis service, which has now been integrated into its existing offering, said Tekcapital.
With a wider offering and higher profile, the company expects to see its client list grow in the second-half.
Shares in Tekcapital were trading 0.6% lower at 21.25 pence Thursday.
By Hana Stewart-Smith; [email protected]; @HanaSSAllNews
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