29th Nov 2013 10:07
LONDON (Alliance News) - Craven House Capital PLC Friday said the net asset value of its holdings rose to GBP3.84 million from GBP2.32 million in the year to end-May, and the total has risen by about GBP2.4 million since then as it acquired new assets and reduced debt.
"We continue to be of the view that our focus on real assets in emerging markets and special situations in developed markets will offer the best returns in the current global economic environment," it said in a statement.
"As Craven House's asset base grows, we are able to target larger acquisition targets with the primary goal of enhancing our shareholders' net asset value per share. We are very confident that in continuing to pursue this strategy, we will be able to secure our shareholders above market returns," it added.
Craven House Capital shares were down 11.5% at 0.5575 pence Friday morning.
By Steve McGrath; [email protected]; @SteveMcGrath1
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