4th Sep 2013 15:58
LONDON (Alliance News) - Reconstruction Capital II Limited said its net asset value was down in the first half of the year, but it reported a swing to profit following strong investment gains.
Reconstruction said it made a pretax profit of EUR23,872 for the six months to June 30, compared with a loss of EUR3.7 million for the corresponding period the year prior. It attributed the swing to strong investments gains compared with losses last half-year.
Its net asset value was down to EUR39.7 million for the half year, compared with EUR89.3 million for the corresponding period last year.
Reconstruction's liabilities were broadly stable on the half-year, with the NAV decline attributable to a near halving in its total assets.
The shares closed Wednesday quoted down 18% at 0.2 pence.
By Samuel Agini; [email protected]; @samuelagini
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