20th Feb 2023 16:22
(Alliance News) - Cambria Africa PLC on Monday said its shares will be suspended, amid delays of its financial 2022 accounts.
Shares in the Zimbabwe-focused investment company were down 9.9% to 0.32 pence each in London on Monday afternoon.
Cambria said it will not be in a position to release audited results for the year ended August 31 by February 28. Therefore its shares will suspended from March 1 until the results are published and sent to shareholders.
"The company will provide a further update to the shareholders upon further material developments," it adds.
In March 2021, the company said that in financial year 2021 it swung to a pretax profit of USD276,000 from loss of USD424,000 prior year, while revenue was USD1.2 million, down 8% from USD1.3 million. Net asset value fell by 1.6% to USD6.32 million from USD6.42 million in financial 2020.
By Sophie Rose, Alliance News reporter
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