14th Apr 2021 15:02
(Alliance News) - RiverFort Global Opportunities PLC on Wednesday hailed positive trading results for the third quarter of its financial year with net profit for the year expected to exceed GBP1.3 million.
AIM-listed investment firm RiverFort said the nine months to September 30 had seen earnings grow. A net profit of over GBP1.3 million is expected for 2020, more than doubling from GBP623,690 the previous year.
Net assets as at December 31 are expected to exceed GBP8.8 million, up 12% from GBP7.9 million in 2019.
RiverFort said it had seen continued investment activity in its third quarter but warned buoyant equity markets had provided greater funding competition to the funding and investment products it provided. It added that in 2021 it expected it to "become more difficult to access structured investment opportunities with the requisite balance of risk and return".
Financial results for the year to 2020 will be announced in May, with no specific date mentioned.
Shares in RiverFort were trading 5.9% lower at 2.07 pence in London on Wednesday afternoon.
By Will Paige; [email protected]
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