Ozgrowth posts 15% fall in investments
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Perth-based investment company Ozgrowth Ltd has reported a near 15 per cent fall in the value of its investment portfolio in the September quarter.
In a brief summary released to the market this morning, the company said the 14.6 per cent fall during the September quarter compares to the 10 per cent increase in value recorded in the June quarter.
Ozgrowth said the decline in the value of listed investments over the quarter has boosted the relative size of cash holdings, climbing from 52 per cent in the June quarter to 62 per cent in following period.
Since the company was listed earlier this year, its investment portfolio has dropped in value by 5.9 per cent.
Net tangible assets, after provision for tax on unrealised profits, fell from 20.9 cents to 18.8c over the quarter.
A dividend of 0.2c per share was paid in August.
Shares in Ozgrowth were steady at 16c at 14:08 AEST.