LSE- and Nasdaq-listed specialty alloy producer Afarak Group has managed to narrow its loss to €16.1-million for the six months ended June 30, compared with an interim loss of €29.2-million reported for the first six months of 2019.
However, despite an improvement in financial performance, CEO Guy Konsbruck says the company is suffering from lower demand for its products and may need to raise further funds to meet its liquidity needs as long as Covid-19 persists.