Vela Technologies improves minuscule revenue, widens loss

Vela Technologies, the investing company focused on early-stage and pre-IPO disruptive technology investments, announced its results for the year ended 31 March on Monday.

The AIM-traded firm reported total revenue for the year of £9,000, up from £8,000 in the year before.

Its total administrative expenses reached £360k, however, from £311k, making for an operating loss of £351k, widening from £303k.

"The company's investment portfolio continues to make positive progress and the board are encouraged by the activity at certain investee companies over the past few months,” said non-executive chairman Brent Fitzpatrick.

“The board looks forward to keeping shareholders updated with news of additional developments as and when they arise.”