29th Apr 2016 17:08
LONDON (Alliance News) - Worldsec Ltd late Friday said its loss was wider in 2015 than the year before after a rise in revenue failed to offset a rise in costs.
The closed-ended fund that primarily makes investments in unlisted companies based in China and south-east Asia made a pretax loss totalling USD644,000 in 2015, swelling from USD475,000 a year earlier after its costs significantly increased.
Staff wages rose to USD225,000 from USD75,000 whilst other expenses amounted to USD462,000 over the year compared to USD360,000. A rise in revenue to USD96,000 from USD8,000 helped partly cushion those increases in costs.
Worldsec shares were untraded on Friday, last trading at 7.0 pence per share.
By Joshua Warner; [email protected]; @JoshAlliance
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