Sharechat Logo

IT Capital's half year loss narrows


Wednesday 23rd October 2002

Text too small?
Technology investor IT Capital today reported a substantially reduced loss of $1.41 million for the six months to September 30.

That compares with a $5.95 million loss in the year ago period and a loss of $21.495 million in the year to March.

Operating revenue fell to $1.25 million from $1.4 million and the pre-tax operating loss was $1.42 million against $4.84 million in the year ago period.

Chief executive David McKee Wright said he was "pleased with the result given the significant decrease in overheads and the holding of cash reserves at over $2 million".

"The company is now in an excellent position to take a strategic step with restructuring behind them and risk adverse assets divested."

  General Finance Advertising    

Comments from our readers

No comments yet

Add your comment:
Your name:
Your email:
Not displayed to the public
Comments to Sharechat go through an approval process. Comments which are defamatory, abusive or in some way deemed inappropriate will not be approved. It is allowable to use some form of non-de-plume for your name, however we recommend real email addresses are used. Comments from free email addresses such as Gmail, Yahoo, Hotmail, etc may not be approved.