30th Sep 2022 06:58
i(x) Net Zero PLC - St Helier, Jersey-registered investment firm focused on energy transition and sustainability - Net asset value rises but turns to half-year loss. NAV per share at June 30 grows 23% to USD0.98 from USD0.80 at December 31, 2021. Explains that fair value of investments increases by 8.6% to USD65.9 million at June 30 from USD60.7 million at December 31.
Turns to interim pretax loss of USD284,460 in the half-year to June 30, from a profit of USD37.2 million a year prior. General and administrative expenses balloon to USD5.0 million from USD1.8 million. Net changes in fair value of financial assets plummets gain to USD4.7 million from USD39.0 million.
Firm says it is well positioned for the long-term, citing US "Inflation Reduction Act" passed in 2022, which funds further transition to reducing green house gas emissions and expanding production of clean energy in the US with USD369 billion.
i(x) Net Zero had its initial public offering on London's AIM in February 2022.
Current stock price: 20.73 pence
12-month change: down 73%
By Tom Budszus; [email protected]
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