22nd Sep 2014 11:51
LONDON (Alliance News) - Volvere PLC Monday said its net assets per share declined over the six months to June 30, hit by a number of "non-recurring charges", but said its net assets per share were up year-on-year.
The company's stock was down 6.2% early Monday afternoon, trading at 305.00 pence.
The AIM-listed investment company said its net assets per share were GBP3.93 as at June 30, compared with GBP4.00 six months earlier, and GBP3.46 as at June 30 last year.
Volvere said revenue from its continuing business came in at GBP9.8 million, compared with GBP4.5 million a year earlier, driven by revenue growth in Shire Foods Ltd and a revenue contribution from JMP Consultants Ltd.
"The current environment is producing regular investment opportunities, and we are actively looking at growing the portfolio. Our existing businesses continued to show positive progress and that, combined with our strong balance sheet, gives us confidence for the future," Chairman David Buchler said in a statement.
The company said it looks forward to making further progress in the second half of 2014.
By Rowena Harris-Doughty; [email protected]; @rharrisdoughty
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