LONDON (Alliance News) - Marechale Capital PLC on Friday reported a narrowed interim loss in a "poor" first half.
For the six months to October 31, the investment bank made a pretax loss of GBP183,658 from GBP459,791 in the same period last year. Marechale Capital's operating loss in the period narrowed to GBP251,047 from GBP278,291.
Marechale Capital reported revenue of GBP136,491 in the period, a 9% increase on the GBP125,066 recorded a year ago.
The company said the narrowed loss takes into account a gain of GBP67,000 on the realisation of one investment and a 2017 provision against fair value of options held in investee companies of GBP119,000. Marechale Capital also made a provision of GBP63,000 in 2017 for a loss in an associate's project.
Marechale Capital noted its current deal flow remains "strong" but "a number" of transactions it is involved with are taking longer to complete.
Chair Mark Warde-Norbury said: "Marechale Capital is highly selective about the management teams, as well as the companies, it advises and backs with its investor relationships. On a more positive note this long-term strategy has resulted in 2018 being the company's best year for exits with 5 multiple investor return exits and one write-off.
"The board of Marechale Capital continues to consider its options and its future strategy."
Shares in Marechale Capital were untraded Friday at 1.32 pence each.
Marechale Cap. (MAC)