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(Alliance News) - Dukemount Capital PLC on Wednesday said its interim loss narrowed, adding that it is considering expanding its current portfolio of projects.
Shares in Dukemount Capital closed 9.4% lower at 0.72 pence each on Wednesday in London
For the six months to the end of October, the company reported a pretax loss of GBP82,469, narrowed from a loss of GBP184,806 last year. Revenue was recorded at GBP987,470, up from zero the year prior. The revenue recorded came from contracts with customers.
Dukemount said it currently has cash balances of around GBP290,025.
The property manager said that its plans to expand comes as a result of positive progress made in regard to its two current projects in the north-west of England.
The Wavertree refurbishment project in Liverpool is scheduled to be completed in March while West Derby Project also in Liverpool, is expected to be completed in August. The West Derby project involved the demolition of a large existing building and the development of a purpose built residential and retail building.
Looking ahead, Dukemount said that based on the success of its model of developing long-dated income projects, it is currently working with consultants and several interested parties in its bid to expand its focus to larger projects in the healthcare and education sectors.
By Ife Taiwo; ifetaiwo@alliancenews.com
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