22.09.2016

Snorkel up 25%

According to Tanfield's half year results, Snorkel revenues increased 25% in the first half of the year, to around $70 million.

No further details were included, given that Tanfield is now a minority shareholder in Snorkel. We do know from Snorkel itself that while it continue to lose money, it is getting close to reaching he break-even point.

As to Tanfield it booked a pre-tax loss of £117,000, almost half the loss for the same period last year.However given the write off of its investment in SEV the company,s total assets fell around £4 million to £36 million.