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Worldsec expects to swing to USD530,000 loss in first half of 2022

16th Sep 2022 11:40

(Alliance News) - Worldsec Ltd on Friday warned that it expects to record a loss attributable to its owners in the first six months of 2022.

The South East Asia-focused investment company estimates the loss to be around USD530,000.

In the six months to June 30, 2021, Worldsec swung to a pretax profit of USD7,000, compared to a loss of USD265,000 the prior year.

"The estimated loss would primarily be attributable to a negative change in the fair value of the financial assets of the group," the company explained.

Worldsec shares were untraded at 2.00 pence each in London on Friday around midday. In the past 12 months, it share price has dropped by 99% from 325.00p.

By Sophie Rose; [email protected]

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