Panther Securities 2021 Pretax Rose on Fair Value Gains

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By Anthony O. Goriainoff

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Shares in Panther Securities PLC rose Monday after the company said 2021 pretax profit rose on booking a fair value gain on derivative financial liabilities, and that it was in a strong position to take advantage of opportunities to buy in new investments.

Shares at 0730 GMT were up 60 pence, or 22%, at 335 pence.

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The London-listed property-investment group said pretax profit was 15.9 million pounds ($20.4 million) compared with GBP2.6 million for 2020. The company said it booked a fair-value gain in its long term-liability on derivative financial instruments of a non-cash nature of GBP16.8 million compared with a loss of GBP5.5 million the year prior.

Revenue rose to GBP13.2 million from GBP13.1 million the year before.

The company said it expects Covid-19 to remain an important factor in 2022, albeit less than in 2021.

“The group is aiming to unlock the value contained within the portfolio, such as by obtaining planning permissions on those with residential value and through lettings of vacant space,” it said.

Write to Anthony O. Goriainoff at [email protected]

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Credit: www.marketwatch.com /

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