PLC News 2007
23 April 2007
Preliminary Results
SovGEM Limited, the emerging market equity finance house, today reports its Preliminary Results for the year ended 31 December 2006. The Company was established principally for the purpose of making investments in Chinese and emerging market, small and mid-cap companies.
Highlights for financial year ending 31 December 2006
- Net Asset Value (NAV) increased 51.6% to 27.91p (2005: 18.4p restated)
- Basic earnings per share increased 296% to 4.44p (2005: 1.12p restated)
- Net unrealised gains £1,586,027 (2005: £1,046,797)
- Retained profits £1,013,294 (2005: restated £272,512)
- Total number of investments at year end 15 (2005: 4)
Subsequent Highlight
- The Directors' best estimate of NAV as at close of business 19th April 2007 is 30.67p
Hugh de Lusignan, Chief Executive Officer and co-founder of SovGEM, said: "I am delighted that we are able to report a second year of strong results for the Company. Net asset value growth of 46.1% in 2005 has been followed by further growth of 51.6% in 2006."
The full results are available to view and download in PDF format.
For further information:
| SovGEM Limited | |
| Hugh de Lusignan, Chief Executive Officer | Tel: +44 (0) 20 7389 0655 |
| hdelusignan@sovereigngroup.com |
Media enquiries:
| Abchurch | |
| Quincy Allan/Laura Riascos | Tel: +44 (0) 20 7398 7710 |
| quincy.allan@abchurch-group.com | www.abchurch-group.com |