30th Sep 2015 12:54
LONDON (Alliance News) - Trinity Capital PLC Wednesday reported a narrowed pretax loss for the first half of 2015 as it continued to work on extricating itself from its remaining three investments, in order to make a final distribution to shareholders and wind up the company.
The Indian real estate investment fund reported a pretax loss of GBP5.3 million for the half year to end-June, narrowed from a pretax loss of GBP12.1 million a year before, mostly as a result of a lower net loss on the disposal of investments.
The company noted that "although some progress has been made, the stars above India, Munich, Mauritius and the Isle of Man have yet to align. Unfortunately, the continuing stagnation in the property markets in the Mumbai and Delhi regions has not facilitated our mission."
Its net asset value fell to 8.8 pence per share from 9.4 pence per share during the half year.
Shares in Trinity Capital were untraded Wednesday afternoon. It last closed at 7.01 pence.
By Hana Stewart-Smith; [email protected]; @HanaSSAllNews
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