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Obtala Resources H1 loss narrows YOY

Obtala Ltd. said its first-half normalized net income amounted to a loss of £867,130, compared with a loss of £4.8 million in the prior-year period.

Normalized net income excludes unusual gains or losses on a pre- and after-tax basis.

Total revenue decreased 90.1% year over year to £350,970 from £3.5 million, and total operating expenses decreased 51.5% year over year to £2.7 million from £5.5 million.

Reported net income totaled a loss of £2.9 million, or a loss of 1 pence per share, compared to income of £2.7 million, or 1 pence per share, in the year-earlier period.