Angle FY10 Loss Narrows, To Focus On Cash Resources, Cost Cuts

29th Jul 2010 08:21

LONDON (Dow Jones)--Angle PLC (AGL.LN), an international Ventures and Management services company, Thursday reported a much narrowed fiscal 2010 pretax loss and said it continues to focus on the level of cash resources available to it and will continue to reduce its cost base and seek new management contracts. MAIN FACTS: -Revenue for year ended April 30 GBP2,699,690 (2009: GBP5,064,381) -Loss before tax GBP181,271 (2009: loss GBP3,365,284) -Loss per share 0.17 pence (2009: 13.42 pence) -Cash balance increased during the year to GBP0.8 million at April 30. -It isn't yet fully clear how U.K. Government's policy decisions will impact Angle in the nearer term. -There are promising signs that major international Management services contracts may be secured over the next twelve months to substantially increase the scale of this business. -Shares at 0715 GMT down 1 pence, or 3.4%, at 28.25 pence valuing the company at GBP7.67 million. -By Ian Walker, Dow Jones Newswires; 44-20-7842-9296; [email protected] (END) Dow Jones Newswires July 29, 2010 03:21 ET (07:21 GMT)