KEY POINTS:
Salvus Strategic Investments Ltd today attributed its $6.3 million loss in the six months to December 31 to unrealised losses on investments.
The loss compared to a $161,000 profit in the same period last year.
Salvus is an investor in NZX listed companies below the top ten companies.
"The period under review proved to be one of the most volatile equity markets we have ever experienced," the company's manager reported.
The company's portfolio includes stakes in New Zealand Oil & Gas, Methven, Abano Healthcare, Energy World Corp (EWC) and Wellington Drive Technologies. Sixteen per cent of the portfolio was in cash.
During the six months the company reduced its holding in Hallenstein Glasson, sold its entire holding in Mainfreight and reduced its weighting in Abano and NZOG in order to increase cash.
The cash weighting of the portfolio was 24.6 per cent.
The company only pays a final dividend.
- NZPA
