Camellia PLC (CAM.L), engaged in agriculture and engineering business, Friday reported a loss before tax from continuing operations of 11 million pounds for the first half, compared with profit before tax of 8.9 million pounds for the same period a year ago, mainly due to reversal of impairment of investment of 18 million pounds last year.
Excluding one-time items, adjusted loss before tax was 11.6 million pounds, wider than 9.2 million pounds loss a year ago.
Operating loss was 8.7 million pounds compared with operating profit of 6.4 million pounds in the prior year.
Net loss from continuing operations was 13.1 million pounds or 459.8p per share versus net profit of 7.4 million pounds or 253.4p per share a year ago.
Revenue for the period increased to 105.1 million pounds from 98 million pounds in the previous year.
The company's Board has decided not to pay an interim dividend for the first half due to continuing operating losses.
Looking ahead, Camellia said in a statement, "Taking account of current trends, revenue is expected to be broadly in line with that of last year and the adjusted loss before tax for continuing operations for the year is forecast to be in line with the trading update of June, resulting in an anticipated loss of between £10 and £12 million."
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