Crystal Amber held back by JJB

13th Sep 2010 16:46

AIM-quoted activist investment company Crystal Amber Fund Ltd made gains on a number of stakes in the year to June 2010 but a poor performance from JJB Sports has held back Crystal's NAV. The NAV was 115.5p a share at the end of June 2010, barely 1% higher than one year before. The share price is 104p a share. Realised gains of £15m were offset by declines in the valuations of existing shareholdings, particularly JJB. JJB is the second biggest shareholding after Pinewood Shepperton and it accounts for 17% of the whole portfolio. Some profits were realised from the JJB stake earlier in the year. Other profitable disposals included stakes in Delta, Kentz, Chloride and Tate & Lyle. Crystal Amber's other large shareholdings include Sutton Harbour, Trading Emissions, Omega Insurance and Paypoint. There is £12.4m in cash in the balance sheet. Other potential investments have been identified.