Baillie Gifford Shin Nippon H1 Loss Widens

Baillie Gifford Shin Nippon Plc (BGS.L), managed by fund management group Baillie Gifford, reported Friday that its first-half net loss on ordinary activities before taxation was 26.29 million pounds, wider than last year's loss of 10.53 million pounds.

Net loss per ordinary share was 8.52 pence, wider than loss of 3.51 pence a year ago.

Revenue return per ordinary share was 0.55 pence, up from 0.04 pence last year.

Net losses on investments widened to 32.24 million pounds from loss of 14.43 million pounds last year.

The company said its Board is disappointed by the weak performance over six months and three years, but this is not unexpected after a long period of strong outperformance and especially given the extremely challenging environment for high-growth small cap stocks more recently.

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