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Ambrian Capital
- BY: Andrew Hore |
- POSTED: 22/09/2010 |
- COMMENTS: Add yours
Aim adviser Ambrian Capital reported an interim loss of £1.77m for its corporate finance and equities division.
Ambrian had been recruiting and increasing the costs of the division in order to try to boost its secondary commissions but it has reversed this strategy and cut costs by one-fifth. This means it will refocus on its core oil, mining and cleantech sectors.
The division’s revenues fell from £3.39m to £2.72m as transactions failed to complete in the period.
The commodities businesses continued to make money and the principal investments division made gains but this was not enough to stop Ambrian moving from an interim profit of £2.28m to a loss of £196,000 in the six months to June 2010.
The interim dividend is unchanged at 0.75p a share.
The stated net asset value is 32.4p a share.
At 20.75p a share, Ambrian is valued at £22.2m.
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