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Internet of Things company investor Tern booked a first half loss, owing to higher operating costs and lower valuation increases.
Pre-tax losses for the six months through June amounted to £0.62m, compared to £0.22m.
The company's net asset value per share, however, rose to 6.9p, up from 6.2p.
At 9:40am: (LON:TERN) Tern Plc share price was -0.53p at 9p