(Alliance News) - Adams PLC on Thursday said its investment portfolio has generated a GBP500,000 year-to-date loss due to impact of Covid-19 on global economy.
The company estimates the loss equating to 21% of its audited net asset value at the start of the year on April 1. It hopes that its portfolio value will not worsen significantly in the remaining days of its year to March 31.
The investment company remains confident that it has sufficient working capital to maintain its operations for the foreseeable future. The company currently has cash balances of GBP900,000.
Shares in Adams closed at 7.00 pence each in London on Thursday, down 18%.
By Tapan Panchal; tapanpanchal@alliancenews.com
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Adams (ADA)