Deficit for the 12-month period ended 31 October 2014 was £7.5m ($11.6m), down from £13.4m in 2013.
The London-listed company said the net result was negative largely due to the sale of the 1971-built vessel Discovery, which was offloaded at a bargain price of $5m, in October.
But it described the move as “a significant step forward in de-risking the business and positioning the group for improved future profitability.”
The
