StockMarketWire.com - Solar assets investment fund Foresight Solar reported a fall in net assets and wider losses as lower power price forecasts weakened demand for solar energy.

For the six months ended 30 June 2020, net asset value decreased to £582.1m from £628.0m reported in December 2019, or 96.0p per share, down from 103.8p a share.

Pre-tax losses widened to £26.7m from £10.8m.

The fall in net assets were driven primarily by a reduction in power price forecastsm the company said.

The total dividend of 3.45p per share declared during the period, but the company said it was on track to deliver on its 2020 target dividend of 6.91p per share.

'Whilst the power-price environment and wider global financial markets are set to remain challenging for the remainder of the year, we will continue to focus on delivering operational and financial stability ... and continue to explore opportunities to expand and diversify further our portfolio of assets,' the company said.




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