News blog

Resources In Insurance Group

• BY: Andrew Hore |
• POSTED: 29/11/2013 |

Resources In Insurance Group (RIIG) has more than halved its interim loss. 

In the six months to September 2013, revenues jumped from £813,000 to £1.73m and the loss fell from £567,000 to £253,000. Net debt was £570,000 at the end of September 2013. Since then, Bob Morton has lent a further £100,000 to the company for a one year period. This takes his loans to £485,000.

RIIG has won additional business which will show through in the second half. This has reduced the dependence on weather-related claims.

At 0.21p a share, RIIG is valued at £819,000.

Download the latest AIM Journal from http://www.hubinvest.com/AIMPDFNovember2013_50.pdf