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EPE Special Opportunities Ltd on Tuesday said ‘adverse macroeconomic conditions’ impacted its results for the financial year ended January 31 2023. The investment company, based in Bermuda, said its net asset value per share at January 31 fell by 28% to 328.41 pence from 455.66p the year before. Meanwhile the share price of the company at January 31 was 170p, a 45% decrease from 309p a year ago. EPE did not declare a dividend for 2023, unchanged from the year before. EPE’s pretax loss widened to £43.8 million from £5.7 million the year before. The company attributed its performance to ‘decreasing consumer confidence’ and said profitability was affected by inflation. Looking ahead, the company said a ‘recessionary environment’ has meant it expects challenges in completing further acquisitions. Nevertheless, EPE will adopt a careful approach to ‘maintain a prudent level of liquidity’, and continue to review a ‘pipeline of attractive investments.’ Chair Clive Spears said: ‘We have all faced significant macro-economic headwinds in the period, and the board and investment advisor have accordingly maintained a careful approach, positioning the portfolio and the company.’ Shares were down 1.2% at 172.00 pence in London on Tuesday afternoon. Copyright 2023 Alliance News Ltd. All Rights Reserved.
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