Business
INTERIM RESULTS FOR SIX MONTHS ENDED 30 JUNE 2020
INTERIM RESULTS FOR SIX MONTHS ENDED 30 JUNE 2020.
About this update from Livermore Investments Group Limited
[{"type":"text","content":"\n \n \n \n RNS Number : 2886A\n Livermore Investments Group Limited\n 28 September 2020\n \n \n \n \n \n \n \n \n \n \n \n \n 28 September, 2020\n \n \n \n \n \n \n \n \n \n LIVERMORE INVESTMENTS GROUP LIMITED\n \n \n \n \n \n \n \n \n \n UNAUDITED INTERIM RESULTS FOR SIX MONTHS ENDED 30 JUNE 2020\n \n \n \n \n \n \n \n Livermore Investments Group Limited (the \"Company\" or \"Livermore\") today announces its interim results for the six months ended 30 June 2020. \n \n \n \n For further investor information please go to \n \n www.livermore-inv.com\n \n .\n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n Enquiries:\n Livermore Investments Group Limited +41 43 344 3200\n Gaurav Suri\n \n Arden Partners plc +44 (0)20 7614 5900\n Richard Johnson / Benjamin Cryer\n \nChairman's and Chief Executive's ReviewIntroductionWe are pleased to announce the interim financial results for Livermore Investments Group Limited (the \"Company\" or \"Livermore\") for the six months ended 30 June 2020. References to the Company hereinafter also include its consolidated subsidiaries (note 8). The COVID-19 outbreak across the world has triggered tremendous human and economic hardships. Since February 2020, protective measures taken to contain spread of COVID-19 (lockdown) have supressed demand and supply globally, leading to a surge in job losses and exceptional turbulence in the financial markets. In light of the extra-ordinary situation, the Company focussed on protecting its capital, maintaining continuous operations, and ensuring the well-being of its employees and consultants.Management cut warehousing risk before the COVID-19 related market sell-off took hold and maintained a high cash position of over USD 60m through the end of the first half of the year. This conservative positioning helped the Company navigate the tremendous volatility and uncertainty that ensued, and allows the Company to participate in the recovery phase by deploying capital opportunistically.During the first half of 2020, the Company generated a net loss of USD 21.8m (30 June 2019: profit of USD 9.1m), which represents a loss of USD 0.12 per share (30 June 2019: gain of USD 0.05 per share). The NAV of the Company stood at USD 144.8m as of end of June 2020, representing a USD ...