LONDON (Alliance News) - Juridica Investments Ltd Friday said its net asset value fell in 2013, largely due to a huge drop in profits for the year.
Juridica, a provider of strategic capital for corporate legal claims to both businesses and the legal markets, declared a total dividend of 14.0 pence per share.
For the year ended December 31, 2013, its net asset value decreased approximately 3% to USD223.6 million, down from USD230.4 million a year earlier. The group had a net asset value per share of USD2.02, compared with USD2.20 in 2012. It said the decline was primarily due to a drop in a drop in total comprehensive income, the declaration of dividends and the sale of treasury shares.
Total comprehensive income for the year was USD5.1 million, compared with USD37.6 million the prior year.
The group said it received gross cash proceeds of USD37.2 million in 2013, compared with USD38.4 million a year earlier, from four investments, comprising one final settlement and three partial settlements.
The company said its antitrust and completion portfolio, patent portfolio, and commercial portfolio are all expected to have significant activity during 2014 and 2015.
"With the continued maturation of our existing portfolio and with our pipeline of potential investments, we anticipate significant returns from the investment portfolio over the next 12 to 18 months and beyond. The board therefore looks to the future with confidence," said Chairman Daniel Brennan in a statement.
Shares in Juridica were down 0.2% at 117.24 pence per share Friday morning.
By Rowena Harris-Doughty; rowenaharrisdoughty@alliancenews.com; @rharrisdoughty
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