Ennex International has reduced its loss before tax from $1,314,000 (€1.29 million) in 1997 to $690,000 (€676,000) in 1998. Shareholders' funds rose from $1,775,000 to $1,424,000, reflecting a rights issue which raised £1.8 million.

Chairman Mr Brian Cusack said the group is examining ways to fund the cost of a number of projects.