Vela Technologies improves minuscule revenue, widens loss

(ShareCast News) - Vela Technologies, the investing company focused on early-stage and pre-IPO disruptive technology investments, announced its results for the year ended 31 March on Monday.The AIM-traded firm reported total revenue for the year of £9,000, up from £8,000 in the year before.Its total administrative expenses reached £360k, however, from £311k, making for an operating loss of £351k, widening from £303k."The company's investment portfolio continues to make positive progress and the board are encouraged by the activity at certain investee companies over the past few months," said non-executive chairman Brent Fitzpatrick."The board looks forward to keeping shareholders updated with news of additional developments as and when they arise."