21st Feb 2014 09:53
LONDON (Alliance News) - Symphony International Holdings Ltd Friday said its pretax profit fell significantly in 2013 as expenses and changes in the fair value of assets offset improved revenues.
The Asia-focused high growth sector investment company said its pretax profit fell 95% to USD6.3 million, from USD120.6 million in 2012, despite a revenue increase of 26% to USD6.7 million from USD5.3 million.
The company said its management fees increased to USD14.9 million from USD9.9 million and its share option expenses increased to USD7.1 million from USD3.4 million during the period. The main profit hit came from a changes to the fair value of its financial assets, which fell 91% to USD11.6 million from USD123.4 million in 2012.
The company also said its net asset value attributable to the ordinary shares on 31 December 2013 was USD1.1759 per share, which represented a 0.6% decrease over the NAV per share of USD1.1836 at December 31, 2012.
Symphony International shares were trading flat at 0.740 pence in early trading Friday.
By Tom McIvor; [email protected]; @TomMcIvor1
Copyright © 2014 Alliance News Limited. All Rights Reserved.
Related Shares:
Symphony