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Investment company LMS Capital reported a fall in quarterly net asset value in the third quarter of the year as costs increased.
For the period from 30 June 2021 to date, net asset value decreased to £46.9 million, or 58.0p per share, from £47.6 million, or 59.0p per share on 30 June 2021.
The £0.7 million decrease in the NAV during the third quarter, was largely driven by an interim dividend of £0.2 million, and £0.4 million of running costs and £0.1 million of investment related costs.
'The company continues to maintain significant cash balances, £20.5 million at 30 September, and remains highly cautious about the way its liquid resources are deployed,' the company said.