2nd Sep 2022 15:48
Primorus Investments PLC - London-based investment firm focused on small and mid cap firms in financial services, technology and natural resources - For the first half of 2022, operating loss widens to GBP847,000 from GBP115,000 the same period a year before, due to a total loss of GBP748,000 on financial investments, compared to a gain of GBP134,000.
Primorus attributes the weaker performance to greater uncertainties, including rising inflation, political instability and the war in Ukraine, resulting in investors becoming more cautious.
"The board remains confident that significant opportunities exist for the company going forward. The board is continually seeking new investment opportunities whilst also monitoring its existing investments to determine when it is appropriate to materialise them. The board has screened several exciting opportunities within the period and looks forward to making further investments in the near term," says Chair Rupert Labrum.
Current stock price: 3.10 pence
12-month change: down 20%
By Dayo Laniyan; [email protected]
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