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Adams swings to first-half net profit on higher investment returns; outlook cautious
StockMarketWire.com
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Investing company Adams reported swung to a net profit in the first half of the year thanks to higher investment returns.
For the six months ended 30 September, net profit rose to £1,091,000 from a loss of £46,000 year-on-year as investment returns climbed to £1,162,000 from £23,000.
Adams held seven investments as at 30 September 2020, of which five were listed and two were un-listed, and for which the total investment carrying value was £2.19 million, up from £1.18 million seen 31 March 2020.
'There is much reason for investment caution in the near term, given the severe economic threat to the global economy from the ongoing Covid-19 pandemic, as well as Brexit uncertainties and unprecedented levels of worldwide public debt,' the company said.
At 9:48am: (LON:ADA) Adams Plc share price was 0p at 6.38p
Story provided by StockMarketWire.com
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