Adams expands investments but widens loss

Technology and life sciences investing company Adams released its final results for the year to 31 March on Wednesday, revealing net assets at year-end of €1.1m, up from €0.25m a year earlier.

The AIM-traded firm’s loss after tax widened during the year, to €0.23m from €0.03m, although its investments were valued at €0.87m on 31 March, up from €0.17m in 2015.

It spent a total of €1.02m on new investments during the year, compared with €0.07m, with profitable realisations resulting in proceeds of €0.36m during the period, up from €0.08m.

Adams also successfully completed a share placing, resulting in 18,181,818 new ordinary shares being issued and funds of €1.08m being raised.

“The Board remains committed to delivering additional value for our shareholders and will continue to maintain a rigorous and highly selective investment approach with a view to exploiting opportunities as they emerge,” commented Adams chairman Michael Bretherton.