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Global Brands Pretax Loss Narrows In 2014 On Lower Costs

Wed, 03rd Jun 2015 16:29

LONDON (Alliance News) - Global Brands SA Wednesday said its pretax loss narrowed in 2014 on the back of lower costs.

The investment company reported a pretax loss of GBP157,545 in 2014, narrowing from a GBP191,347 loss in 2013. The loss narrowed on the back of lower costs. The company does not currently generate any revenue.

Global Brands said administrative expenses fell to GBP115,901 from GBP156,357, partially offset by financial charges rising to GBP10,880 from GBP1,498.

Global Brand shares closed down 10.4% to 0.260 pence per share on Wednesday.

By Joshua Warner; joshuawarner@alliancenews.com; @JoshAlliance

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