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Annual Results

Adamas Finance Asia losses widen

23 June 2016 09:06

Adamas Finance Asia's consolidated net asset value fell to US$115.0 million in the year to the end of December from US$118.9 million at the end of 2014 while losses rose to US$3.9 million from US$545,000.

Chairman John Croft said : "I believe that while 2015 saw disappointing delays in our planned asset disposal programme, it also showed how our shift to income-generating investments, whilst still in its early stages, is already yielding high rates of return. Progress with new investments was unavoidably held back, which is frustrating in the light of our strong deal pipeline. ADAM is underpinned by the experienced Adamas team in Hong Kong, however, with proven expertise operating in the Chinese investment sector. I remain confident that in the long term their investment advice and fund management skills will yield strong returns for ADAM shareholders."

At 9:06am: (LON:ADAM) Adamas Finance Asia Limited Ord Npv share price was -0.05p at 0.45p

Story provided by StockMarketWire.com

Related Company: ADAM

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