Intuitive Investments Group PLC on Friday reported a decline in net asset value in the first half of its current financial year, as well as a narrowed loss on reduced expenses.
The closed-end investment company focused on technology and life sciences said net asset value per share at March 31 was 153.2 pence, down 0.5% from 153.9p on September 30 and 0.8% lower than 154.5p on March 31, 2024.
Its pretax loss narrowed to £91,000 in the six months that ended March 31, against £1.1 million the year before.
This was driven by administrative expenses reducing by 57% to £431,000 from £1.0 million a year prior, and finance income increasing to £315,000 from £58,000.
The firm’s losses on investments at fair value narrowed to £11,000 from £130,000 during the six-month period.
‘IIG’s primary focus and driver of shareholder value is Hui10, a technology company leading the digital transformation of the Chinese lottery. Hui10 is making good progress with the nationwide roll-out of its lottery and retail platform across China,’ said Intuitive Investments Chair Nigel Rudd.
‘We have a proven model and technology, national-scale partnerships and milestones that support the rollout in the second half of the year and beyond. This momentum, allied to the depth of our team’s relationships with key bodies and institutions, supports the opportunity for Hui10 to generate substantial shareholder returns.’
Shares in Intuitive Investments were untraded at 125.00 pence each in London on Friday afternoon. The stock is down 17% over the past year.
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