Primorus Investments PLC - London-based investment firm focused on small and mid cap firms in financial services, technology and natural resources - Reports pretax loss for 2022 of GBP1.5 million, widening from GBP41,000 a year ago. Says net assets are GBP7.5 million, down 16% from GBP8.9 million a year ago. "The board believes the company to be significantly undervalued given its current share price and resultant market capitalisation," the firm says. Basic loss per share was GBP1.06, swinging from earnings per share of 0.08 pence.
"Although there have been several headwinds for Primorus and the markets in general, the board feels the company is in a strong position to take advantage of opportunities as they present themselves," Chair Rupert Labrum says.
Current stock price: down 5.5% at 2.60 pence each on Friday in London.
12-month-change: down 20%
By Harvey Dorset, Alliance News reporter
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Primorus Inv. (PRIM)