30th Sep 2013 12:58
LONDON (Alliance News) - Wildhorse Energy Limited Monday said its pretax losses narrowed in its full-year as lower costs and lower impairment charges bolstered company finances.
The AIM-listed underground coal gasification and uranium developer in Central and Eastern Europe, said its pretax loss narrowed to AUD7.8 million from AUD11.9 million for the 12 months to June 30.
The company is yet to post any revenues.
Wildhorse lowered its employee benefits to AUD2.7 million from AUD3.5 million and its professional costs to AUD1.3 million from AUD2.3 million during the period.
The company's latest results also benefited from a one-off impairment charge of AUD4.1 million in 2012 which skewed figures.
Wildhorse shares were down 1.0 pence to 2.97 pence Monday.
By Tom McIvor; [email protected]; @TomMcIvor1
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