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Conygar Investment net assets fall, but losses narrow; sees signs of return to normal
StockMarketWire.com
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Conygar Investment reported a fall in first-half net asset value but said it expected to see signs of a return to normalcy following the pandemic impact.
Net asset value was £86.7 million at 31 March 2021, down from £95.3 million year-on-year and net loss narrowed to £1.4 million from £1.5 million.
'The loss for the current period includes a £1.2 million write down in the value of our retail park at Cross Hands, Carmarthenshire, as a result of the significant impact of COVID-19 on the retail sector compounded by the strong growth in online shopping both before and, to an even greater extent, throughout the pandemic,' the company said.
Looking ahead, the company expected the country slowly to return to a semblance of normality, boosted by the success of the vaccinations.
'The Island Quarter project at Nottingham has significantly progressed along with the majority of our other assets and [...] we anticipate real progress will be made over the next year,' it added.
At 9:22am: (LON:CIC) Conygar Investment Company The PLC share price was 0p at 111.5p
Story provided by StockMarketWire.com
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