28th Sep 2018 17:39
LONDON (Alliance News) - Dolphin Capital Investors Ltd on Friday said its net asset value per share declined in the first half of 2018 as it progressed on disposal of its assets.
NAV per share as at June 30 stood at 22 pence before tax and 19p after tax, remaining stable compared to the figures published at the end of 2017.
The stock closed 3.9% lower on Friday at 6.10 pence each.
Total NAV stood at EUR220 million and EUR190 million before and after taxes, respectively. This represents a decrease of 1.5% and 2.1% year-on-year, respectively.
The result came after the company disposed its entire holding in Triopetra for EUR4.1 million in February. In addition, it sold a 78% interest in the Sitia Bay Resort project for EUR14 million in April.
"We remain focussed on achieving our objective of disposing of all of the Company's assets and made significant progress during this period," said Chairman Andrew Coppel.
"We have also taken steps to increase the value of the project portfolio without recourse to additional equity investment," added Coppel.
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