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IN BRIEF: Adams Net Assets Decline On Swing To Loss On Investments

Tue, 30th Jun 2020 14:56

Adams PLC - special situation investor headquartered in the Isle of Man - Net assets as at March 31 decline to GBP2.06 million from GBP2.4 million the year before. Annual pretax loss of GBP303,000 compared to with GBP257,000 profit the year before, as the company swung to a GBP245,000 loss on investments from a GBP317,000 gain. Net assets per share shrank to 2.50 pence from 2.87p year-on-year. The company is so far yet to draw down on its GBP3.0 million shareholder loan facility. Chair Michael Bretherton said: "The full economic fallout from the Covid-19 pandemic remains uncertain but continued volatility can be expected. Against this economic backdrop, your board will continue to maintain a rigorous and highly selective investment approach which is committed to delivering additional value for shareholders going forward. We remain confident in the underlying fundamentals, technologies and long-term potential for growth at the companies within our investment portfolio."

Current stock price: 11.00 pence

Year-to-date change: up more than 100%; 5.00p on January 2

By Anna Farley; annafarley@alliancenews.com

Copyright 2020 Alliance News Limited. All Rights Reserved.

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