2nd Nov 2018 11:34
LONDON (Alliance News) - Pires Investments PLC on Friday reported a 27% rise in the value of its unaudited net assets driven by a good performance of two of its major investments.
As at the end of October, the investment company's NAV was GBP950,000, up from GBP750,000 at the end of April.
The increase was mainly attributed to a good performance by the company's principal investments in its portfolio, Eco (Atlantic) Oil & Gas Ltd and SalvaRx Group PLC.
"We are pleased with the performance of the investment portfolio which leaves us well placed to continue to develop the company," said Chairman Peter Redmond.
Pires shares were untraded at 2.35 pence each.
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