- LMS Capital swung to loss it reported a decline in annual net asset fell following a slump in investment performance.

For the year ended 31 December 2018, the company reported a loss of £4.2m, compared with a profit of £7.6m a year earlier. Net asset value fell £60.3m , or 74.7p per share from £64.5m, or 79.9p per share, respectively, a year earlier.

The company reported a loss on investment of £2.49m, compared with a profit of 10.41m a year earlier.

'There are currently sale discussions underway on assets which could result in further significant realisation proceeds being received,' the company said.

'The deployment of the cash in the group of some £17 million at the year end, plus any further realisation proceeds is under active consideration by the Board and Gresham House, the Manager.'

'A number of opportunities are currently under review from a pipeline of potential opportunities that is being developed. GHAM is focused on shareholder value and would expect new investments to be made in 2019 in line with the investment policy and investment return objectives.'

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