28th Jun 2019 12:16
(Alliance News) - RiverFort Global Opportunities PLC on Friday said its net asset value increased sharply in 2018.
The AIM-listed investor's NAV as at December 31 stood at GBP7.3 million, versus GBP2.4 million the year before.
Investment income totalled GBP513,000 for the year, many times it's GBP12,000 income in 2017, but its net loss loss from financial instruments at fair value through profit and loss was GBP929,000, widened from GBP812,000.
"Going forward the company is continuing to actively invest its capital in new opportunities and, to date, has now invested around GBP5.5 million in RiverFort-arranged investments. There continues to be strong demand for funding from junior listed companies which can deliver attractive investment returns," said Chair Philip Haydn-Slater.
"The company still has a substantial cash balance to deploy as a result of the return of principal from its investments, the generation of investment income and its fund-raising activities. It is therefore particularly well placed to continue to build on the results for 2018 and grow its portfolio significantly and rapidly by making investments that can generate income and capital growth whilst offering downside protection. We firmly believe that 2019 will be another positive year for the company," Haydn-Slater added.
Shares in Riverfort Global were untraded Friday in London but last closed at 0.08 pence.
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