Geneva Finance has again pared its losses. The company made a loss of $2.6 million in the six months to September, an improvement on the $7.7 million loss it posted in the same period last year.
Revenue was down 37% to $9.3 million.
The company describes the result as disappointing, but directly attributable to a non-cash write-off of $3.2 million.
Geneva says it's reduced its head count and lowered annual overhead costs, which has resulted in a saving of $7.3 million per year.
The company says the current economic climate is difficult, but it has a good equity base and a viable low cost operating structure to see it through the challenges.