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Logistics Development Group PLC on Friday reported a sharp swing to interim loss, due to a significant one-off gain in the previous period.
The London-based investment company swung to a loss of £786,000 in the six months to May 31 from a profit of £21.6 million a year before.
Logistics Development blamed this on a small loss on investments at fair value and a one-off gain in the same period a year before. It swung to a loss on investments at fair value of £299,000 from a £22.2 million profit.
The company attributed this to the sale of Marcelos Ltd's investment in GreenWhiteStar Acquisitions Ltd in the prior period, resulting in a one-off gain.
Marcelos is one of its portfolio companies. It holds a 49% stake in the business.
Logistics Development said its investment manager is currently reviewing a number of investment opportunities.
Shares were down 2.2% at 13.00 pence each on Friday morning in London.
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