LONDON (ShareCast) - Pinnacle Technology posted a narrower loss in the first half, after raising £1.4m with share placements.
In the six months to 31 March, the group's pre-tax loss more than halved to £0.56m, from £1.19m a year earlier.

Sector-wise, IT services saw the most improvement, almost doubling to £0.63m from £0.35m, while operating expenses fell from £2.5m to £1.8m. This offset a slight decline in revenue, which dipped to £4m from £4.3m.

The outlook remained positive, with the company highlighting that 88% of revenues were recurring and that exceptional one-off costs remained out of the picture.


Isle of Man-based 3Legs Resources reported a £35m loss and detailed its change in strategy on Monday.

The company which focused on oil and gas exploration now classifies itself as an investment firm.

The firm posted a loss per share of 0.41p, up from the 0.05p the previous year, in its final results on Monday.

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