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Bank of Georgia reports uptick in net assets on strong performance in private portfolio
StockMarketWire.com
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Bank of Georgia reported an uptick in annual net asset value per share underpinned by strong performance in its private portfolios thanks to a recovery in market sentiment.
For the year ended 31 December, net asset value per share rose 2.7% to GEL48.12.
The uptick in net assets was primarily driven by the first-time valuation of GHG, as a wholly-owned private company, and the performance of its investment stage portfolio companies.
Revenue and earnings before interest, taxes, depreciation and amortisation, or EBITDA, of its private portfolio were up 6.4% to GEL 1,624.8 million and 4.1% to GEL 291.6 million respectively in FY20.
'These strong positives were partly offset by losses in our hospitality and real estate businesses and the FX loss, the company said.
At 9:09am: (LON:BGEO) Bank Of Georgia Group PLC share price was 0p at 1050p
Story provided by StockMarketWire.com
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