29th Sep 2014 11:29
LONDON (Alliance News) - Westside Investments PLC Monday said it swung to a significant pretax loss in the first half of 2014, hit by a fall in revenue, higher administrative expenses and an impairment on the value of its investments.
The AIM-listed venture capital company reported a pretax loss of GBP152,311 for the six months to June 30, compared with a pretax profit of GBP5,338 in the first half of 2014.
Revenue in the period declined to GBP880,331, down from GBP1.1 million a year earlier.
The company also saw an increase in administrative expenses, and booked a GBP7,818 impairment in the value of investments.
Westside Investments, said its portfolio company Pantheon Leisure PLC, in which it holds a 85.87% shareholding, swung to an operating loss in the first half.
Shares Westside Investments were untraded Monday midday at 0.250 pence.
By Rowena Harris-Doughty; [email protected]; @rharrisdoughty
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