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FastForward investments make positive advancements amid pandemic
26th Aug 2020 08:04
(Sharecast News) - Investment group FastForward Innovations said on Wednesday that a "large portion" of its investments had continued to make positive advancements amid the Covid-19 pandemic.
FastForward said multiple investments had reached "significant milestones in their development" and stated that it was now "well-positioned" to deliver value over the short-to-medium term.
The AIM-listed company anticipates that it will reach a share price "more reflective" of its net asset value of £14.2m, which was actually down from the £19.07m recorded a year earlier.
FastForward also stated it had seen a 95% year-on-year increase in revenues between January and May at invest Gaming, and had also highlighted positive revenue moves at a joint venture aimed at leveraging biological big data for drug development formed by portfolio company Juvenescence.
Chief executive Ed McDermott said: "With this in mind, I am excited about what the next year will bring, and I am firm in my belief that through narrowing our sectoral focus for future investment and streamlining our existing portfolio to also reflect this, we are well-positioned to deliver value over the short-to-medium term and reach a share price that is more reflective of our underlying NAV."
As of 1335 BST, FastForward shares were down 1.01% at 12.25p.
FastForward said multiple investments had reached "significant milestones in their development" and stated that it was now "well-positioned" to deliver value over the short-to-medium term.
The AIM-listed company anticipates that it will reach a share price "more reflective" of its net asset value of £14.2m, which was actually down from the £19.07m recorded a year earlier.
FastForward also stated it had seen a 95% year-on-year increase in revenues between January and May at invest Gaming, and had also highlighted positive revenue moves at a joint venture aimed at leveraging biological big data for drug development formed by portfolio company Juvenescence.
Chief executive Ed McDermott said: "With this in mind, I am excited about what the next year will bring, and I am firm in my belief that through narrowing our sectoral focus for future investment and streamlining our existing portfolio to also reflect this, we are well-positioned to deliver value over the short-to-medium term and reach a share price that is more reflective of our underlying NAV."
As of 1335 BST, FastForward shares were down 1.01% at 12.25p.