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IN BRIEF: Blue Star Capital interim loss widens and net assets fall

28th Jun 2023 11:51

Blue Star Capital PLC - investor in e-sports, gaming and blockchain companies - Pretax loss widens to GBP1.2 million in six months ended March 31 from GBP996,806 a year before, partly due to a loss on disposable investments of GBP81,491. Blue Star Capital's operating loss increases to GBP1.2 million from GBP1.0 million. Net assets fall to GBP10.5 million as of March 31 from GBP11.7 million a year before, with the company affirming that the formal sales process of its stake in SatoshiPay Ltd is expected to be completed by the end of 2023. NAV per share was 0.2 pence on March 31.

SatoshiPay is a cyptocurrency micropayments provider focused on building the Pendulum Network Project it established in June 2021.

"The board remains focussed on supporting its current portfolio businesses with the objective of establishing up to data market values in the second half of 2023. The company's two principal investments continue to achieve significant operational milestones and the board remains confident that the portfolio retains significant potential," says Blue Star Capital Executive Chair Tony Fabrizi.

Current stock price: 0.14 pence, down 7.1%

12-month change: down 40%

By Will Neill, Alliance News reporter

Comments and questions to [email protected]

Copyright 2023 Alliance News Ltd. All Rights Reserved.

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