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Castelnau Group Ltd - closed-ended investment firm - Reports loss for its first complete half-year since its initial public offering on the London Stock Exchange in October 2021.
In the six months to June 30, Guernsey-based firm posts pretax loss of GBP30.1 million and income of GBP47,028. Out of the loss, GBP29.7 million is due to net losses on financial assets at fair value.
Net asset value falls 17% to 77.21 pence per share at June 30 from 93.55p at December 31, 2021.
Regarding its investment policy, Castelnau says it "may select investments from all asset classes, geographies and all parts of the capital structure of a business". Further, Chair Joanne Peacegood explains: "The group's investment objective is to compound shareholders' capital at a higher rate of return than the FTSE All Share Total Return Index over the long term by using the investment manager's toolbox of modern techniques to transform old economy businesses into valuable long-term winners."
Current stock price: 80.00 pence
12-month change: down 26%
By Tom Budszus; tombudszus@alliancenews.com
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