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- Avarae NAV climbs on profitable disposals
Avarae Global Coins reports results for the year ended 31 March 2015. Its NAV per share increased to 14.9 pence (2014: 14.5 pence). It made sales of £630,000. Profit on ordinary activities of increased more than 50% to £380,000 up from £250,000. The full year dividend is maintained at 0.15 pence per share.
The carrying value of their portfolio of rare and high quality coins increased 5% to £11.14m from £10.62m and they had cash at period end of £880,000. Trading since the year end has been active, with the Company selling more than 150 coins and recording revenues of approximately £0.51m. Since 1 April 2015, the Company has also acquired coins with a value of approximately £160,000
Examples of coins acquired during the year include:
In terms of sales they say the highlight for the period under review was the sale of £0.5m of English gold coins. These sales represented a 39 per cent margin over the carrying value of these coins as at the 31 March 2014.
AVR : Avarae NAV climbs on profitable disposals