Limitless Earth narrow first-half losses

30th Oct 2018 09:23

(Sharecast News) - AIM-listed tech and life sciences investor Limitless Earth saw narrowed losses throughout the first half of its trading year on the back of an improved finance income.In its he firm's total investments held for trading rose 4.4% to £1.6m by the end of July, while cash on the balance sheet shrank 25% to £591,504.Finance income soared 357% to £28,496 year-on-year in the six months ended 31 July, while pre-tax losses narrowed 9.61% to £55,427 as admin expenses increased 24% to £83,923.Existing investments had progressed in line with expectations, the company said, highlighting the "exciting potential" from its investment in Italian industrial waste recycling company Saxa Gres.In May, Limitless sold down its equity stake in Saxa Gres from 2.5% to 2.38% as the company bought a factory from Ideal Standard. Limitless also sold some of its loan notes holds, leaving a holding of €500,000 of notes.Limitless also revealed it had been looking at several new potential investments throughout the half, with due diligence opened on multiple potential new investments - some of which were ongoing.As of 0920 BST, Limitless shares had picked up 2.04% to 5.74p.