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Sigma Capital

  • BY: Andrew Hore |
  • POSTED: 05/09/2009 |

A positive trading statement from Sigma Capital has led Edison Investment Research to increase its 2009 earnings per share forecast from 0.5p to 3.9p.

The property and venture capital funds manager is expecting a pre-tax profit of £1.4m in the first half of 2009. That includes an estimated £3.5m gain on the reversal of its university IP business into Plus-quoted Frontier IP and a £1.8m write-down on the company‘s stake in the seventh property limited partnership.

Edison expects the net asset value to be around 20p a share - including 7p a share from Frontier IP - at the end of June 2009. There should be net cash of roughly £4.5m - including £700,000 in 77.4%-owned Frontier IP.

At 17p a share, Sigma is valued at £7.95m.

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