LONDON (ShareCast) - CH Bailey reported a wider loss for the first six months, as a result of currency fluctuations but said it will focus on further cost cutting in the second half.

The group posted a pre-tax loss of £453,000 for the six months to September compared with £350,000 a year earlier, on turnover of £6.19m from £5.67m a year ago.

When exchange losses of £217,000 are taken into account, compared with exchange gains of £109,000 last year, the adjusted loss fell 45% in the first half to £260,000.

CH Bailey said underlying trading is continuing to improve, adding, “We need to make some further reductions in our central and other operating costs as well as look for further efficiencies.”

The group said its Beho Beho safari camp in the Selous Game Reserve continued to exceed all expectations in terms of forecasts and revenues, while the hotel in Malta has seen an increase in profits for the half year.

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