1st Oct 2018 16:01
LONDON (Alliance News) - APQ Global Ltd said Friday it swung to an interim loss as its revenue dropped during the first six months of the year.
For the six months to June 30, the emerging markets growth investment company posted pretax loss of USD14.9 million compared to a USD5.8 million profit a year before. Revenue was USD4,885 down from USD2.3 million a year prior.
The company's book value at June 30 was USD84.4 million, down form USD100.0 million in January. Meanwhile, net asset value per share also dropped to 108.13 cents from 128.11 cents at the end of December.
Chairman Wayne Bulpitt said: "The first six months of 2018 were very challenging in emerging markets. The rise in interest rates in the United States, increased prospects of a trade war between China and the United States and domestic turmoil in Argentina and Turkey have all weighed heavily on the asset class."
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