30th Sep 2014 16:11
LONDON (Alliance News) - Vela Technologies PLC Tuesday said it swung to a loss in its last financial year, after last year's results were boosted by a gain on a disposal.
The investment company, which focuses on early stage and pre-initial public offering technology investments, reported a pretax loss of GBP163,000 for the year ended March 31, compared with a pretax profit of GBP140,000 the prior year, when it benefited from a GBP273,000 profit gain from the sale of a subsidiary.
The company said it generated GBP4,000 in revenue during the year, compared with nothing the prior year.
The company's stock closed 14.3% lower Tuesday at 0.300 pence.
By Rowena Harris-Doughty; [email protected]; @rharrisdoughty
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