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Investment company LMS Capital reported a fall in annual net assets as its investment portfolio was hurt by the impact of the Covid-19 pandemic.
For the year ended 31 December 2020, net asset value fell to £47.9 million, or 59.4 pence per share, from £56.0 million, or 69.3 pence per share in 2019.
The reduction was blamed on the impact of Covid-19 on portfolio investment valuations in the first half of the year, that widened portfolio losses to £2.1 million from £0.8 million year-on-year.
'The previously announced Dacian Petroleum transaction remains in the final stage of government approvals, and we have backed two real estate teams, George Capital and Cavera, that have a pipeline of opportunities,' the company said.
At 8:39am: (LON:LMS) LMS Capital PLC share price was 0p at 29.9p