Geneva Finance interim loss narrows

Geneva Finance has posted an improved six-month after-tax loss of $950,000, despite a 43% fall in revenue.

Revenue from ordinary activities fell to $5.26 million.

Geneva posted a loss of $2.6m a year earlier, for the six months ended September 30.

Geneva had paid about $100m in principal and interest to investors by the end of September. When the company entered a moratorium in 2007, it owed $142m to 3000 investors.

NZPA

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