WH Ireland Group PLC - London-based wealth-management firm - On December 13, reports that pretax loss in the six months to September 30 narrows to £1.2 million from £3.9 million a year prior. Revenue falls 16% to £5.3 million from £6.3 million. Notably, WH Ireland reports a gain from discontinuing operations of £900,000, compared to a loss of £2.1 million a year earlier. Administrative costs reduce to £7.6 million from £7.9 million. Total assets under management contract to £1.1 billion from £1.2 billion. The company notes a ‘challenging market backdrop’. Chief Executive Officer Phillip Wale says: ‘We have an improved chance of returning Wealth Management to a break-even position following the cost reductions over the last year, supported by a more stable financial position, and without anticipating any potential improvement in our markets.’ Looking ahead, WH Ireland says further cost reductions are underway as it plans to assess strategic opportunities as they arise.

Current stock price: 2.50 pence each

12-month change: down 55%

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