LONDON (Alliance News) - Investing company Nova Resources Ltd made a smaller pretax loss in the first half as it focused on cost controls.
The pretax loss narrowed to GBP176,000 from GBP2.9 million a year earlier, when it booked a writedown on the fair value of its investments. It generates no revenue.
The company said it has made slow progress on its investments in renewable energy company Enerstry Group Ltd and natural resource investment company Tricor PLC and continues to evaluate potential other acquisition opportunities. Enerstry was responsible for the wider loss made a year earlier.
Nova shares were untraded Wednesday, having last traded at 0.150 pence.
By Sam Unsted; samunsted@alliancenews.com; @SamUAtAlliance
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