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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 £1.5 million, widening from £41,000 a year ago. Says net assets are £7.5 million, down 16% from £8.9 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 £1.06, 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%
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