21st Jun 2016 08:23
LONDON (Alliance News) - Blue Star Capital PLC Tuesday said it continues to monitor opportunities to enhance shareholder value as it reported a narrowed pretax loss for its first half.
The media and gaming focused investment company reported a pretax loss of GBP67,586 for the half year to end-March, narrowed from a pretax loss of GBP149,104.
Net assets decreased slightly to GBP1.85 million from GBP1.88 million.
In June 2015 it invested GBP50,000 in early stage payments technology business Sthaler Ltd, taking a 1.5% stake.
Following the half year end, in May Blue Star sold its 4.9% stake in Vigilant Applications Ltd for GBP220,000. As as the end of March this stake was valued at GBP220,445.
"The board remains committed to driving value in the current portfolio whilst appraising further investments as appropriate and continuing to run the company on a low cost base. The recent disposal of VAL combined with the recent increase in value in Sthaler will generate an improvement in net asset value and has provided some additional cash as the board continues to monitor corporate opportunities to enhance shareholder value," said Chairman Graham Parr in a statement.
Shares in Blue Star Capital were untraded Tuesday. They last closed at 0.101 pence.
By Hana Stewart-Smith; [email protected]; @HanaSSAllNews
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