Tekcapital makes progress as its H1 loss widens

Tekcapital said it has made significant progress towards achieving the objectives it set out last year, as it posted a first-half pre-tax loss of $997,174, from a loss of $659,936.

Tekcapital said it had established a strong foundation for future revenue growth with its numerous technology acquisitions, citing the launch of Belluscura Ltd and the acquisitions of Vortechs Group and the uSalt patent.

The technology and intellectual property services company's six-month revenue was $274,262, from $287,488. Other administrative expenses rose to $1.1m, from $947,352.