Sep 14th 2012 - Edison Investment Research today published a report on GLI Finance (GLIF.L, LSE:GLIF, LON:GLIF) entitled "Look Through The Accounting". In summary, the report says:
GLIF has announced its statutory results for H112. We believe the accounting does not help investors, who should instead focus on a couple of business messages. Firstly, interest and dividend revenue was £7.4m (up from £5.9m), while expenses fell from £4.4m to £3.1m and finance costs from £1.3m to £1.2m. The surplus (£3.1m) exceeds shareholder dividends (£2.2m yield 9.6%) by nearly half. Secondly, the group is in ‘active discussions’ about ‘value-accretive transactions’.
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