22nd Mar 2019 11:14
LONDON (Alliance News) - LMS Capital PLC on Friday said it is exploring new investment opportunities following a fall in net asset value in 2018.
The investment company reported NAV per share of 74.7 pence at the end of 2018, down from 79.9p a year earlier.
2018 has been a year of building cash resources, LMS Capital said, to restart the company's active investment plans. Cash in the company has grown to GBP17.7 million at December 31 from GBP4.0 million at the start of the year, following realisations.
Continued successful realisations in the year totalled GBP17.6 million, slightly lower compared to GBP21.7 million in 2017. There are currently sale discussions underway on assets which could result in further significant realisation proceeds being received, LMS Capital said.
Looking ahead, the company said is actively engaged on a number of investment opportunities which fulfil its investment policy and are in line with the resources.
"The results of the company for 2018 show a reduction in NAV, which is disappointing, but continued progress from the manager in realising assets, has led to healthy cash balances," said Chair Martin Knight.
The stock was trading 2.5% higher on Friday at 48.56 pence a share.
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Lms Capital