Logistics Development Group shares dipped 0.7% to 13.2p in early morning trading on Friday after the firm swung to a pre-tax loss to £786,000 in HY1 2022 against a £21.6 million profit the last year.
Logistics Development Group attributed its falling profitability to a small loss on investments at fair value in the last term, compared to a significant comparative period gain on investment at fair value as a result of its sale of Marcelos’ investment in GreenWhiteStar Acquisitions Limited.
The company announced a net finance cost of £245,000 against an income of £22.1 million year-on-year.
Logistics Development Group reported a total comprehensive loss for the financial period of £786,000 from an income of £21 million in HY1 2021.
The group highlighted a basic loss per share of 0.12p compared to an earnings per share of 4.2 the last year.
Logistics Development Group did not issue a dividend for HY1 2022.
