23rd Jun 2023 15:25
(Correcting that the company does not expect to declare a dividend for 2022).
RiverFort Global Opportunities PLC - Wycombe-based investment adviser - Swings to 2022 pretax loss of GBP866,430 from GBP1.0 million in profit in 2021. This collapse in profit is driven by a net movement in fair value of investments to a loss of GBP1.8 million from a gross profit of GBP242,873 the year prior. RiverFort Global says it generates investment income of GBP1.2 million. Says its net asset value per share on December 31 was down 9.3% at 1.35 pence from 1.49 pence, and net asset value decreases by 10% to GBP10.6 million from GBP11.7 million the previous year. The company says it does not expect a dividend will be declared for 2022.
Chair Philip Haydn-Slater said: "Whilst 2022 has been a difficult year, the board believes that it has managed to safely navigate its way through this period. As markets improve as they undoubtedly will, the company is well placed to benefit and progress going forward."
Current trading share: 0.65 pence, down 3.7% on Friday
12-month change: down 31%
By Will Neill, Alliance News reporter
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