Revaluations hit Strada
PA Wellington Strada Holdings reported a December halfyear loss after investment revaluations of $252,000, against a profit of $833,000 in the previous corresponding period. Turnover in the latest half was down to $1,829,000, from $1,872,000, on which profit was $178,000 ($345,000). The latest result included a realised investment loss of $115,000 (nil previously). That took profit before revaluations down to $68,000, from $168,000.
Net unrealised revaluation losses came to $315,000, including a drop in investment in Strada Entertainment Trust of $1,116,000 and a $399,000 fall in the value of an option to acquire shares in Venturecorp Investments. Those unrealised losses were partially offset by a $1,200,000 rise in the value of future profit entitlements from musicals. In the previous corresponding half year, Strada had a $655,000 gain in the unrealised value of the Venturecorp share option.
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Press, 25 February 1988, Page 24
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139Revaluations hit Strada Press, 25 February 1988, Page 24
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