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By Najat Kantouar
Oracle Power has declared a widened pretax loss for the first half year as a result of higher operating costs.
The power and natural-resource project developer said on Monday that pretax loss for the six months ended June 30 was 613,773 pounds ($751,319) compared with a loss of GBP356,295 for the same period a year earlier.
The losses were due to foreign-exchange losses and adjustments to the accounts for associate-company investments.
It didn’t generate any revenue.
The company had cash and cash equivalents at June 30 of GBP326,946.
Write to Najat Kantouar at [email protected]
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