The turnaround at NetScientific PLC (AIM:NSCI, FRA:NTK1), the investor in life sciences and technology, continues apace.
However, the current share price still doesn’t reflect its inherent worth, let alone its potential, the company said.
In the interim results statement, investors were told: “The board remains of the view that the market significantly undervalues the group, with current price below fair value, but without taking into account growth opportunities.”
The stock closed on Tuesday at 123.5p, which is an almost 10-fold increase from where it was at its nadir in early 2020.
That said, the market capitalisation is currently around £25mln, which represents a significant discount to fair value, estimated in the six-month results to be £31.9m (up 50% year on year). The net asset value is put at £23mln.
The results for the six months ended June 30 showed the loss for the period was almost £1.5mln, reflecting the investments in team and infrastructure to increase capacity and drive growth.
Chief executive Ilian Iliev said: "The half-year results show the transformation in NetScientific's operational and portfolio performance.
“The group is well-positioned to grow and deliver shareholder value through its proactive and hands-on management approach and capital-light investment model.
“We are continuing to identify, selectively invest in, and help to build game-changing companies and have demonstrated the ability to deliver significant added value.
“We are seeking to address the continued disconnect between the fair value and growth opportunities of the group, and the current market cap."