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Net asset value rises at Adamas Finance Asia

NAV rose by US$15.8mln to US$93.6mln, which reflected a US$19.6mln net rise in the portfolio's value
Hong Kong
ADAM has an interest in FLM, a well-known Hong Kong food group

Asia-focused investment company Adamas Finance Asia Limited (LON:ADAM) posted a strong increase in net asset value in 2017 after an overhaul of its portfolio.

NAV rose by US$15.8mln to US$93.6mln, which reflected a US$19.6mln net rise in the portfolio's value compared to the previous year.

READ: Adamas Finance Asia ready to expand again as portfolio restructuring draws to close

On a per share basis, NAV rose to US$1.22 from US$0.40 while there was a net profit of US$11.7mln (2016: US$37.2mln loss).

Cash at the year-end amounted to US$13.2mln.

John Croft, chairman, said significant progress had been made in reshaping the portfolio.

"Overall, I am confident that 2018 will be a year of further progress both with disposals and new investments as we move towards a predominantly income generating portfolio which will allow us to make regular dividend distributions to our shareholders."

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