On 21 December 2020, the Company announced its Q3 update for the period to 30 September 2020 which demonstrated positive trading by the Company for the first nine months of 2020.
The Company is currently preparing its financial accounts and is proceeding with its audit process for 2020 and it is currently expected that its results for the year to 2020 will be announced in May 2021. Trading has continued to be positive in the last quarter of 2020 such that the net profit for the year is expected to be in excess of £1.3 million, compared to the previous year’s figure of £623,690 and net assets are expected to exceed £8.8 million compared to the figure as at 31 December 2019 of £7,878,417. These figures are provisional and, as stated above, are subject to audit.
In recent months, the Company has seen continued investment activity, however, equity markets have been buoyant and have therefore provided greater funding competition to the structured funding and investment products usually provided by RGO. Whilst RGO is still actively making this type of investment, the Company believes that going forward into 2021, it may become more difficult to access structured investment opportunities with the requisite balance of risk and return.
The information contained within this announcement is deemed by the Company to constitute inside information as stipulated under the Market Abuse Regulations (EU) No. 596/2014 as it forms part of UK Domestic Law by virtue of the European Union (Withdrawal) Act 2018 (“UK MAR”).
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