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Sigma Capital

  • BY: Andrew Hore |
  • POSTED: 01/02/2010 |

Sigma Capital expects to report a 2009 profit of more than £900,000, against a loss of £490,000 the previous year.

The property and renewable energy funds manager had a mixed year. Revenues fell from £4.73m to £2.42m. The venture capital operations were profitable but the property management business made a small loss. On top of that, the investment in the seventh property partnership, which was launched in November 2007, has been written down to nil. The total write-down of debt and equity is £2.7m.

Plus-quoted Frontier IP, which is 77%-owned by Sigma, also made a small loss but Sigma made a £3.58m gain on its demerger.

Net assets are expected to rise from 15.9p a share to 19p a share. Net cash was £3.6m at the end of 2009 – that includes Frontier IP’s cash.

At 14.25p a share, up 0.5p on the day, Sigma is valued at £6.67m.

The full year figures will be published in April - when Sigma intends to announce a maiden dividend.

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