11th Oct 2024 12:34
(Alliance News) - Cambria Africa PLC's shares enjoyed a boost on Friday, as they returned to trading following the publication of both its interim results for this year, and full year results for financial 2023.
Cambria Africa is a holding company for firms operating in Zimbabwe. Its shares jumped 65% to 0.35 pence each in London on Friday afternoon.
The shares resumed trading on the publication of Cambria Africa's results. However, as announced in September, the company will cease to have a nominated adviser from October 14.
This means that Cambria Africa's shares will once again be suspended on October 14, and as the company has decided not to appoint a new adviser, will remain so until the cancellation of admission of shares on October 22.
For the six months ended February 28, 2024, Cambria Africa reported a net asset value per share of 1.12 US cents, up 6% from 1.06 cents a year prior.
Revenue, however, fell 59% to USD185,000 from USD451,000. Operating costs were down 41% to USD192,000 from USD323,000.
Separately, Cambria Africa also issued its annual report for the year ended August 31, 2023.
Revenue was virtually unchanged at USD922,000 from USD920,000, while pretax profit was up to USD335,000 from USD139,000. Operating costs fell to USD585,000 from USD623,000.
By Holly Beveridge, Alliance News senior reporter
Comments and questions to [email protected]
Copyright 2024 Alliance News Ltd. All Rights Reserved.