Adamas Finance Asia Limited reports net loss of $ 0.70 million for H1 2020Adamas Finance Asia Limited reports net loss of $ 0.70 million for H1 2020

Adamas Finance Asia Limited (LON: ADAM) has released its interim results for the six months ended 30 June 2020.

  • Total income of the company from interest payments and fair value adjustments declined to USD1.19 million as compared to USD1.25 million in H1 2019.
  • Net loss for the period stood at USD 0.70 million as compared to USD 0.16 million H1 2019.
  • The loss was mainly because of the USD 179K finance cost, associated to the interest payable on the Company's corporate bond and USD 322K ECL (Expected Credit Loss) provision formed in relation to the FLM Holdings investment.
  • As at 30 June 2020, Net Asset Value (NAV) per share decreased to USD 0.95 (GBP 0.75) as compared to USD 1.08 or GBP 0.84 as of 30 June 2019.

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