(Correcting share price currency to euros.)
LONDON (Alliance News) - Technology and life sciences-focused investment company Adams PLC on Friday said it made two investments in the first half and said it is maintaining a selective approach to investing given uncertainty in markets.
Adams said it invested EUR242,000 in the first half in two AIM-listed technology companies, neither of which it named. The first is a global online gaming and sports betting company, while the other is a processor technology business.
The group said the slowdown in China, the ongoing uncertainty in Europe, conflicts in Ukraine and the Middle East, and uncertainty about the UK's position in the European Union have made it "highly selective" about the investments it pursues.
In the first half to end September, Adams made a pretax loss of GBP95,000, compared to a GBP25,000 loss a year earlier, mainly due to the net gain made on its investments being significantly lower, at GBP24,000 against GBP172,000.
Shares in Adams were down 22% to EUR0.1125 on Friday.
By Sam Unsted; samunsted@alliancenews.com; @SamUAtAlliance
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Adams (ADA)