Archived article
Please note that tax, investment, pension and ISA rules can change and the information and any views contained in this article may now be inaccurate.
Malin Corp PLC on Wednesday reported a swing to an interim profit as investment income grew and administrative expenses were slashed.
Pretax profit in the six months to June 30 stood at €600,000 versus a loss of €2.2 million a year prior. Investment income jumped to €1.6 million from €300,000.
The Dublin-based investor in life sciences companies reported that administrative expenses more than halved to €800,000 from €2.2 million.
However, intrinsic equity value per share dropped 13% to €7.61 at June 30 from €8.70 at December 31, 2021.
The company estimates that value to be at €9.08 per share at September 5, down 1.7% from €9.24 on June 30, 2021. This compares to an untraded share price of €4.53 in Dublin on Wednesday.
Looking ahead, Chief Executive Darragh Lyons said: ‘I am confident that we will see continued operational, clinical and transactional progress within Malin and our investee companies during the months ahead.’
Copyright 2022 Alliance News Limited. All Rights Reserved.