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IN BRIEF: Primorus reports narrowed loss despite "difficult time"

18th Aug 2023 16:47

Primorus Investments PLC - London-based investor specialising in small and mid-cap companies and assets - Reports a pretax loss of GBP512,000 in the six months ended June 30, narrowed from GBP847,000 the year prior. Total losses on financial investments reduce to GBP184,000 from GBP748,000. Records an unrealised gain on market value of GBP314,000, compared to a loss of GBP500,000 the previous year.

Says the first half of 2023 has been a "difficult time" for capital markets, with rising interest rates causing a "general slowdown" in the deployment of capital being invested. Notes investor caution in the period has also had a negative effect on the asset valuations for some of its investments. Remains confident that "significant" opportunities exist for the company going forward.

Current stock price: 3.33 pence

12-month change: up 2.6%

By Heather Rydings, Alliance News senior economics reporter

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