Business
Quarterly update to 31 March 2020
Quarterly update to 31 March 2020.
About this update from Tooru Plc
[{"type":"text","content":"\n \n \n RNS Number : 0400P\n RiverFort Global Opportunities PLC\n 05 June 2020\n \n \n \n \n \n \n \n 5 June 2020\n \n \n \n \n \n \n \n \n RiverFort Global Opportunities plc\n \n \n \n \n \n (\"RGO\" or the \"Company\")\n \n \n \n \n \n Quarterly update to 31 March 2020\n \n \n \n \n \n RiverFort Global Opportunities plc is pleased to provide a detailed quarterly update for Q1 2020 for the quarter to 31 March 2020.\n \n \n \n \n \n Highlights\n \n \n · \n Investment income generated in Q1 2020 of £203,000\n \n \n · \n Net asset value maintained\n \n \n · \n Focus on cash recovery from investments \n \n \n · \n Successful implementation of capital reorganisation and reduction\n \n \n · \n Significant cash balance available for further investment \n \n \n \n \n \n Chairman's review\n \n \n The Company has continued to generate a good level of investment income from its investment portfolio. It has also made some new investments during Q1 2020 in companies such as Westminster Group plc and Red T plc\n . However, given the uncertainty created by the Covid-19 pandemic, the Company has held back on the level of capital deployment and has focused more on recovering cash from its investments in order to reduce the level of risk within its investment portfolio. This has been achieved successfully and so, as a result, the Company has increased its cash balance over the period.\n \n \n \n \n \n \n The analysis of income for the period is set out below: \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n Q1 to 31 March 2020\n \n \n \n \n Full year to 31 December 2019 \n \n \n \n \n \n \n \n \n \n \n \n \n \n £\n \n \n \n \n £\n \n \n \n \n \n \n Investment income\n \n \n \n \n 203\n \n \n \n \n 889\n \n \n \n \n \n \n Net income/loss from financial instruments at FVTPL\n \n \n \n \n (202)\n \n \n \n \n 128\n \n \n \n \n \n \n Net foreign exchange gains/(losses) on other financial instruments\n \n \n \n \n 65\n \n \n \n \n (69)\n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n Total investment income\n \n \n \n \n 66\n \n \n \n \n 948\n \n \n \n \n \n \n \n \n The \n net income from financial instruments at FVTPL for Q1 amounted to a loss which was principally due to a reduction in the Pires Investments plc share p...