30th Sep 2014 10:40
LONDON (Alliance News) - Livermore Investments Group Ltd Tuesday reported a marginal decrease in net asset value over the course of the first half, but an increase in first-half pretax profit.
In a statement, Livermore said its NAV was about USD168.2 million, or USD0.86 per share, at the end of June, slightly below USD168.4 million at the end of 2013. However, NAV per share was flat at USD0.86.
On June 30, 2013, Livermore's net asset value stood at USD174.2 million, or USD0.89 per share.
The company said it made a USD11.5 million pretax profit in the six months ended June 30, compared with a USD7.3 million pretax profit in the corresponding period last year.
"The performance relates largely to gains on the credit portfolio and the disposal of our investment in Montana Tech Components, offset by write downs on certain investments," Chairman Richard Rosenberg and Chief Executive Noam Lanir said in a joint statement.
In January 2014, Livermore announced an interim dividend of USD0.0256 per share. The company Tuesday said it will decide on its dividend policy for 2014 based on profitability, liquidity requirements, portfolio performance, market conditions, and the share price of the group relative to its NAV.
Livermore shares were Tuesday untraded at 32.00 pence.
By Samuel Agini; [email protected]; @samuelagini
Copyright 2014 Alliance News Limited. All Rights Reserved.
Related Shares:
Livermore