(Alliance News) - Georgia Capital PLC on Tuesday reported a rise in net asset value in the second quarter of 2023, boosted by the Georgian economy and the appreciating lari.
The Tbilisi-based investor focusing on domestic businesses in Georgia said net asset value in lari as at June 30 rose 8.2% to GEL73.28 from GEL67.72 as at March 31. In sterling, it improved 3.3% to GBP22.12 from GBP21.41.
The company cited an expansion of the retail chain for its Retail (Pharmacy) portfolio and "resilience of Georgian economy".
Adjusted interest income however in the second quarter of 2023 to June 30 fell to GEL5.0 million, around GBP1.5 million, from GEL9.4 million a year before.
Chair and Chief Executive Officer Irakli Gilauri said: "Looking ahead, I believe that Georgia Capital is extremely well-positioned for consistent NAV per share growth in the medium to long term, while also continuing to make significant progress on our key strategic priorities."
Georgia Capital shares were 0.1% lower at 918.00 pence each on Tuesday morning in London.
By Tom Budszus, Alliance News reporter
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Georgia Capital (CGEO)