Highlights
IFRS earnings after tax $8.8 million (30 June 2015: loss of $20.6 million);
Underlying earnings after tax $31.5 million (30 June 2015: $34.5 million);
Basic underlying earnings per share 4.8 cents (30 June 2015: 5.0 cents);
Adjusted diluted net asset value per share 70 cents (31 December 2015: 70 cents);
Investment portfolio stable at 82% let;
Issue of new convertible preference shares completed on 7 July 2016 raising £109 million;
Cash balance today of $331 million; and
Proposed distribution of 0.5p by way of tender offer buy back of 1 in 80 shares at 40p.
Glyn Hirsch CEO said, "We are getting used to the new business conditions and the market is adapting and stabilising too. With our considerably strengthened balance sheet we feel well placed for the next phase for the Group."
