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Watchstone posts £1.8m half-year loss
StockMarketWire.com
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Technology company Watchstone has posted an EBITDA loss in the six months to end of June and reported lower group net assets.
The company recorded an EBITDA loss of £1.8m in its half-year report, compared to a £0.4 million profit in 2020.
Group net assets were £15.4 million at 30 June 2021, down from £17.1 million as at 31 December 2020, while group cash at the end of the six-month period totalled £14.3m and £1.8m held in escrow, down from £16.7m and £1.9m respectively at the end of last year.
Watchstone said that £0.6 million of external legal fees were incurred in the six months ended 30 June 2021.
In an update in its half-year report, the company said: 'The first half of 2021 has been occupied with progressing realisation of our remaining litigation assets for the benefit of shareholders.'
In August 2020, Watchstone filed and served a claim against PriceWaterhouseCoopers in the High Court for damages or equitable compensation of £63 million plus interest and costs.
At 2:29pm: (LON:WTG) Watchstone Group Plc share price was 0p at 62p
Story provided by StockMarketWire.com
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