IT Capital's half year loss narrows

That compares with a $5.95 million loss in the year ago period and a loss of $21.495 million in the year to March.

Operating revenue fell to $1.25 million from $1.4 million and the pre-tax operating loss was $1.42 million against $4.84 million in the year ago period.

Chief executive David McKee Wright said he was "pleased with the result given the significant decrease in overheads and the holding of cash reserves at over $2 million".

"The company is now in an excellent position to take a strategic step with restructuring behind them and risk adverse assets divested."

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