27th Sep 2018 12:43
LONDON (Alliance News) - Energiser Investments PLC on Thursday reported a narrowed interim loss on reduced costs and an increased net asset value per share.
In the six months ended June, the investment company's pretax loss narrowed to GBP58,000 from GBP81,000 the year before.
Energiser did not report any revenue in the first half, down from GBP82,000 in the first half of 2017.
The investment company's administrative costs decreased to GBP63,000 from GBP109,000 and its finance costs were zero down from GBP38,000 the year before.
Energiser's net assets increased 17% to GBP2.1 million from GBP1.8 million and its NAV per share increased 14% to 1.67 pence from 1.46p.
Energiser said its focus will remain on its "one key investment": AIM listed residential investor KCR Residential REIT PLC.
In the period, Energiser received GBP438,000 income from a revaluation gain on its investment in KCR.
The company said it will continue to look for other investment opportunities to "achieve capital growth".
Shares in Energiser Investments were untraded Thursday but last closed at 1.25 pence each. KCR shares were down 6.0% at 70.00 pence each.