20th Dec 2019 16:09
(Alliance News) - Hermes Pacific Investments PLC said Friday its financial performance was in line with expectations, as its loss widened in the first half.
The investing company, with a focus on investing in Asian emerging markets, said for the six months ended September 30, its pretax loss was GBP48,000 compared to loss of GBP40,000 in a comparable period a year ago.
"The company's financial performance is in line with our expectations," Hermes said.
The company said it had no revenue, and it continues to manage its costs effectively whilst keeping spending to a minimum.
"Investments in these parts of the world can be volatile and higher risk but for long-term investors the outlook can be promising," Hermes said.
Hermes Pacific said it continues to consider possible investment opportunities which would be compatible with its investment strategy.
Haresh Kanabar, chair of the company, said: "As 2020 approaches, many businesses are feeling anxious, with geopolitical tensions a primary source of their unease."
"The company intends to maintain a cautious approach to investment but expects that as global uncertainties diminish attractive investment opportunities should emerge," Kanabar said.
Hermes Pacific shares were untraded in London on Friday.
By Loreta Juodagalvyte; [email protected]
Copyright 2019 Alliance News Limited. All Rights Reserved.
Related Shares:
HPAC.L