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LONDON (Alliance News) - Georgia Capital PLC said Monday it will remain "vigilant" and "disciplined" amid "regional turbulence" despite posting a 12% rise in net asset value for the first half of 2018.
For the six months to June 30, the investment company's net asset value was GEL1.68 billion, equivalent to GBP517.0 million, up from GEL1.51 billion at December-end.
Net asset value per share rose by 19% to GEL45.71 if calculated in Georgian Lari and 28% to GBP14.06 in Stirling since December end. The company added that its net income jumped 67% year-on-year to GEL70.8 million from GEL42.3 million.
Georgia Capital said that it expects the Georgian economy to remain "resilient" despite the "recent regional turbulence in Turkey and Russia".
"However, we want to stay disciplined when it comes to capital allocation and deployment to better understand the magnitude and length of this turbulence. At the same time, we will remain vigilant to any investment opportunities which may be created by any ongoing regional economic pressures," Chairman and Chief Executive Officer Irakli Gilauri said.
Georgia Capital was admitted to trading on the premium listing of the London Stock Exchange at the end of May, following a demerger from BGEO Group PLC.
Georgia Capital shares were trading up 1.3% at 1,062.60 pence each on Monday morning.
