29th Mar 2019 11:38
LONDON (Alliance News) - Polo Resources Ltd on Friday reported a widened loss in the first half of its current financial year as it booked a loss on some investment sales.
For the six months to the end of December, Polo delivered a pretax loss of USD1.9 million compared to USD1.6 million a year prior, as it made a USD458,000 loss on sale of its investments.
As at December 31, the company had investments worth USD55.3 million, up from USD47.5 million at the end of 2017.
The investment company reported a net asset value per share of 15.59 pence as at Thursday last week, up from 13.86p at the end of 2018.
Looking forward, Executive Chair Datuk Tang said: "Polo remains focussed on supporting our current investee companies as our key priority heading into 2019.
"With market uncertainty and volatility remaining high because of issues such as Brexit which could adversely impact eurozone economies and the potential for a softening of the Chinese economy, Polo remains focussed on securing for shareholders a balanced risk exposure to the natural resources sector," added Tang.
Polo shares were trading 5.6% higher on Friday at 4.56 pence each.
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