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Livermore reports on a positive year

Livermore LIV

Livermore reports on a positive year – In the company’s report for the year ended 31 December 2017, Livermore Investments Group (LIV) reported that its NAV per share increased by 11.0% to USD 1.00 from USD 0.90 the year before.

Net profit for the year, however was USD 16.4m from USD 34.0m in 2016. The net income was primarily driven by interest and distribution income generated by the CLO and warehousing portfolio partly offset by loss on fair value of investments of USD 5.9m and administrative and financing expenses.

The company recorded gains from its financial portfolio as the US credit and collateralised loan obligations (CLOs)  markets continued to perform well. Management took advantage of lower funding costs to reduce the cost of financing for several of its CLO positions. Interest and distribution income from the financial portfolio totalled US$ 28.0m, up US$1.7m on the year.

LIV : Livermore reports on a positive year

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