Port Erin Biopharma reports €0.5M profit for second half of 2016

Port Erin Biopharma has reported financial results for the six-month period ending 31 December 2016.

The company has reported €0,5 million net profit for the period. Neto profit for the same period last year was €0,2 million.

The results for the present period have reported reassuring gains which reflect the positive steps which had been taken to improve the Net Asset Value, the comapny said. However, its share price still remains at a significant and disappointing discount to the underlying assets base, being over 50 per cent at year-end.

The company said that its investments continue to show significant growth potential for the remainder of 2017 and beyond.