(Correcting conversion of NAV from GEL is GBP, not USD.)
(Alliance News) - Georgia Capital PLC on Wednesday said its performance improved over 2020.
The London-listed company, which acts as a platform for buying, building and developing businesses in Georgia, said net asset value per share as at the end of 2020 was GEL48.12, about GBP10.28, a 27% increase from the end of September 2020 and a 2.7% growth year-on-year.
Georgia Capital said total portfolio value was GEL2.91 billion, about GBP620 million, as at the end of 2020, up 21% on September 2020 figure and 29% higher year-on-year.
Total portfolio revenue in 2020 rose to GEL1.62 billion, a 6.4% increase on 2019. Earnings before interest, tax, depreciation and amortization grew by 4.1% year-on-year to GEL280.2 million.
"Entering 2021, we see positive factors as vaccines are being rolled out to manage the pandemic impact, while markets and businesses have adapted to the new environment. The range of possible economic outcomes, however, still remains wide. We have a high-quality and defensive portfolio with significantly reduced dependence on tourism inflows, a clear and proven governance model, an extensive network of top-quality talent and strong financial flexibility. These are the foundation for consistent future NAV per share growth," said Chair & Chief Executive Irakli Gilauri.
Georgia Capital shares were trading 1.8% lower in London on Wednesday afternoon at 501.00 pence each.
By Evelina Grecenko; evelinagrecenko@alliancenews.com
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Georgia Capital (CGEO)