27th Feb 2014 12:24
LONDON (Alliance News) - Elephant Capital PLC said Thursday that net asset value for the full-year fell on the comparative previous period, after a GBP3.0 million fall in the valuation of its investment portfolios.
For the year to August 31 2013, Elephant reported a fall in NAV to GBP8.1 million or 33 pence per share from GBP21 million or 44 pence per share, as recorded August 31 2012.
The firm said the fall in NAV reflects the purchase of Elephant's shares at GBP9 million; it was also hit by a GBP2.5 million fall in the valuation of its unlisted investment portfolio, including an exchange loss of GBP0.8 million, a GBP0.5 million fall in its listed investment portfolio, including an exchange loss of GBP0.4 million, and the excess of expenses over income of GBP0.9 million.
Shares in Elephant were trading up 9.09% at 18 pence per share Thursday, amongst the biggest gainers on the London market.
By Alice Attwood; [email protected]; @AliceAtAlliance
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