African Diamonds cuts pre-tax losses to £205k

AFRICAN Diamonds – the Dublin-headquartered mining company – has reported pre-tax losses of £205,000 (€230,000) for the first half of its current financial year.

The figure, for the six months to the end of December, represents a significant slashing of first-half losses, as the John Teeling-chaired company had reported losses of £775,000 for the same period the previous year.

The AIM-listed company also cut its operating losses by 33% to £223,000 and its first half loss per share went from £1.02 to 27p, on a year-on-year basis.