Gledhow Investments PLC on Monday reported a widened loss and drop in turnover for its most recent financial year.
The London-based investment firm, which focuses on small to medium companies, reported a pretax loss of £422,980 for the financial year ended September 30, widened from a £285,740 loss the previous year.
‘In what proved to be a difficult year in the public markets, the market value of the company’s investments declined by £419,412,’ Managing Director Guy Miller said.
Turnover plummeted by 71% to £282,127 from £974,578. Gledhow’s operating loss rose 57% to £423,987 from £270,203.
Gledhow noted a cash balance of £150,426 as of September 30, down from £174,052 at the same time in 2023.
‘Whilst the company’s trading activity has reduced with low levels of fundraising in the small microcap UK public markets,’ Miller commented, ‘the directors continue to follow an investment strategy, through investing in small undervalued or fast growing companies, with the investment objective of achieving long term capital growth in excess of the FTSE All Share Index.
‘Opportunities in the UK public markets are presenting themselves and the company is taking some advantage of market volatility.’
Shares in Gledhow were untraded at 0.425 pence on London’s Aquis Exchange on Monday. They last publicly sold for 0.40p on February 5.
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