- Gas storage company InfraStrata posted a first-half loss as it continued to develop its flagship Islandmagee project in Northern Ireland.

The company also announced that it was in advanced discussions with two potential equity investors in the project, with a view to agreeing terms of investment.

Pre-tax losses for the six months through June amounted to £495k, compared to losses of £390k on-year.

Front-end engineering and design for the project was completed in December.

InfraStrata said it was aiming to maintain a minority stake in the project and would be involved in its construction and on-going operations post construction.

'It is the company's intention to negotiate a management contract for the construction of the facility potentially providing an income stream in late 2019,' it added.

At 1:46pm: [LON:INFA] Infrastrata PLC share price was -0.02p at 0.79p

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