Energiser Investments has recorded a full-year pre-tax loss of £211,000, which was marginally larger than the loss of £167,000 it returned a year earlier.
The company said it was negotiating specific opportunities in the serviced apartment and self-storage sectors. It was further reviewing a number of secured lending investments through its property lending subsidiary.
“We look forward to sharing full details of the next Energiser investment with shareholders in 2017.” The company strategy was to focus on and engage in investment opportunities within the real estate sector, in particular in real estate operating companies.
Energiser’s net assets for the year had increased significantly to £1.75m, from £419,000, primarily due to the new equity issue in December 2016 which raised £1.26m gross. NAV per share was 1.41p, from 0.96p.
It added that the 20 properties in Wellingborough werre currently let and would continue to be let on short-term tenancies.
“The Directors have decided that following successful asset management activity, rents and values have increased such that it is timely to consider a disposal. The assets will be marketed for sale in 2017,” the company said.
“Our investment in the development funding of 12 residential properties in Kingswood, Surrey has now been repaid. At the year end 11 of the 12 units had been sold. The last unit was sold in April 2017 and all payments have now been received.”
At 14:31 BST, shares in AIM-traded Energiser Investments were flat at 2.5p each.