StockMarketWire.com - Investment company Sealand Capital Galaxy posted a first-half loss, citing a serious adverse impact on its business from the pandemic.

Pre-tax losses for the six months through June amounted to £0.14 million, compared to year-on-year losses of £0.40 million.

Revenue slumped to £39.2 million, down from £276.6 million year-on-year.

'The Covid-19 outbreak has negatively impacted various economies that the group operates in, and travel restrictions have been imposed,' executive chairman Nelson Law said.

'In an ever-increasingly connected world, a process sped up further by COVID-19, the e-commerce bridges we are building between UK merchants and Chinese consumers seem more apposite than ever before.'

'We continue to believe that our ability to offer commercial and logistical solutions to businesses in a world that is moving ever more rapidly towards online shopping and away from physical stores will be critical for the growth of the business.'


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