Stentor, the telecommunications company, has announced an increase in the loss before tax from £1.6 million (€2.03 million) to £6.9 million (€8.76 million) in the six months ended June 30th 1998. The results, however, are pretty academic as they do not reflect the subsequent financial restructuring. Also, the group had already announced results for the first five months and the latest figures are proportionally in line with those.

The Stentor directors "have diligently pursued" the business plan outlined in the restructuring document, said chief executive, Mr Gerard O'Keeffe. Sales since the end of the interim results "are in line with expectations as a result of contracts signed with new call centre, calling card and VPN customers and increased order values from existing customers".

Stentor said it is confident that the current year's results will confirm that "considerable progress has been made in the achievement of the objectives outlined in the business plan which underpins the ongoing recovery of the company". It is continuing to seek a new chairman and finance director. And it "hopes to be in a position to report on their appointments shortly".

The latest results show a rise in the loss per share from 19.40p to 85.52p. Also it had a deficit of £5.4 million in shareholders funds.

However, since then it received an injection of £8.3 million. The injection was made by one of its major shareholders, Retirement Benefit Fund, which now controls more than 50 per cent of the equity.