- Georgia Capital said net asset value per share rose 21.6% in the first half of the year, driven stock buybacks and the performance of its listed and private assets.

Net asset value per share rose 21.6% to GEL 53.9 on the back of GEL 347m value creation and decrease in number of shares outstanding by 2.1 million shares, the company said.

Listed assets contributed GEL 246m to value creation, while private assets contributed GEL 101m.

The beer business launched five new brands, including Amstel and Heineken, ensuring earnings (EBITDA) was at break-even level in June 2019, and positive at GEL 0.6m in July 2019.

'Our outlook for the second half of 2019 performance and beyond remains robust,' the company said. 'Over the last few quarters we have laid strong foundations for significant value creation across all our private businesses, which we expect to be reflected within our NAV over the next 12 to 24 months.'

At 8:43am: [LON:CGEO] Georgia Capital Plc Ord Gbp12.70 share price was +7p at 1031p

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