Adamas Finance Asia posts drop in assets, wider loss

23rd Jun 2016 13:14

(ShareCast News) - Adamas Finance Asia posted its results for the 2015 calendar year on Thursday, and revealed a consolidated net asset value of $115m at year-end, down from $118.9m a year earlier.The AIM-traded firm reported a wider loss for the year, at $3.9m, compared with $0.545m in 2014.Year-end cash grew, however, to $3.6m from $0.492m, and the company confirmed it received a post year-end cash payment of $0.755m from BRJ fund."I believe that while 2015 saw disappointing delays in our planned asset disposal programme, it also showed how our shift to income-generating investments, whilst still in its early stages, is already yielding high rates of return," said Adamas Finance Asia chairman John Croft."Progress with new investments was unavoidably held back, which is frustrating in the light of our strong deal pipeline."Croft said the company remained underpinned by the experienced team in Hong Kong, with proven expertise operating in the Chinese investment sector."I remain confident that in the long term their investment advice and fund management skills will yield strong returns for ADAM shareholders," Croft added.