Business
Aberdeen International Reports Results for the Three and Six Months Ended July 31, 2023
Total investment loss of $3.0 million and $6.9 million for the three and six months ended July 31, 2023, comprised of realized losses on investments of $2.1 mil
About this update from Aberdeen International Inc.
[{"type":"text","content":" Total investment loss of $3.0 million and $6.9 million for the three and six months ended July 31, 2023, comprised of realized losses on investments of $2.1 million and $2.4 million and unrealized loss on investments of $0.9 million and $4.5 million for the respective three and six month periods. As at July 31, 2023, Aberdeen's shareholders' equity was $20.9 million, or $0.14 per basic share Investments in clean energy inputs and technologies such as Ammpower Corp. and Consolidated Lithium Metals Inc. continue to be core to Aberdeen’s strategy TORONTO, Sept. 15, 2023 (GLOBE NEWSWIRE) -- Aberdeen International Inc. (“Aberdeen” or the “Company”) (TSX: AAB, F: A8H, OTC: AABVF) is pleased to announce that it has released its financial results for the three and six months ended July 31, 2023. For the three and six months ended July 31, 2023, Aberdeen reported a net loss of $3.4 million and $7.9 million or $0.02 and $0.05 per basic share from total revenue of $(3.0) million and $(6.8) million (realized loss on investments of $2.1 million and $2.4 million, unrealized loss on investments of $0.9 million and $4.5 million). For the three and six months ended July 31, 2022, Aberdeen reported net loss of $0.9 million and $2.1 million or $0.01 and $0.02 per basic share from total revenue of $0.5 million and $0.8 million (realized loss on investments of $1.9 million and $2.1 million, unrealized gains on investments of $2.4 million and $2.9 million). Market conditions remain challenging and the portfolio remains heavily invested in early-stage companies, largely in the natural resources, clean energy and battery metals sectors – sectors that are thematically important as the world seeks to secure critical materials for a growing population while concurrently transitioning to a lower-carbon energy mix. Despite the significance of these themes and the Company’s exposure to them, early-stage investment valuations have been pressured amidst a global risk-off environment, driven by inflationary concerns and monetary policy actions being taken by central banks, amongst other factors. “Clean tech and sustainable agriculture continue to be Aberdeen’s largest exposures and we continue to actively seek opportunities to drive value for shareholders during a challenging time for companies that are early on in their lifecycle. We remain focused on support...