Marechale Capital hails pipeline as loss widens amid higher costs

Marechale Capital PLC on Monday said it is in the process of building a "strong" pipeline of new business opportunities, but reported an increased annual loss and lower revenue.

The London-based adviser and financing provider serving consumer brands, leisure, clean energy, mineral extraction, and technology companies said its pretax loss widened to £912,174 in the financial year ended April 30, from £337,325 a year prior.

Revenue fell 17% to £341,075 from £409,413.

Marechale said its performance was "resilient" in a challenging market for small & medium enterprise funding, and noted an increase in activity levels in the second half of the financial year.

Furthermore, it said that its core investment, Weardale Lithium Ltd, made further progress towards the development of UK's first direct lithium extraction plant.

Notably, costs classified as "other" increased sharply to £731,323 from £122,822.

Looking ahead, Chair Mark Warde-Norbury said: "We are in the process of building a strong pipeline of new business opportunities across the group, some of which are at an advanced stage, and the board looks forward to providing further details as and when appropriate."

Marechale shares were down 2.0% at 5.00 pence each on Monday at around midday in London.

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