A change of strategy has yet to lead to an uptick in the fortunes of wealth manager WH Ireland Group PLC (AIM:WHI).
Losses in the half year to end September 2024 were £1.32 million from £1.81 million in 2023 on an underlying basis as interim revenues fell to £8.5 million from £10.7 million.
Some £3.2 million of that turnover came from the capital markets division, which was sold to Zeus in July.
Assets under management in the ongoing wealth division dropped to £1.1 billion from £1.2 billion.
Phillip Wale, chief executive, said the results reflected “the challenging market backdrop”.
"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.”
Shares dropped 8% to 2.85p.