Nova Resources down 54% after final year results

Nova Resources down 54% after final year results

Investment company Nova Resources was on of the biggest movers on the AIM market this morning, falling 54.5% after publishing its audited results for 2014.

The company reported a loss for the year of £2,922,790, compared to £477,699 in 2013. The basic loss per share was 0.82p.

Despite these large losses, the report stated that “the Company has adequate resources and loans from long term investors to continue in operational existence for the foreseeable future”.

Nova Resources are an investment company, with a policy focusing on building up businesses that are involved in the energy, infrastructure, technology and manufacturing industries, as well as the natural resources sector.