FastForward Innovations highlights growth of asset value in first half

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FastForward Innovations Ltd (LON:FFWD) has reported growth in the value of its net assets in the first half of its current year.

For the six months to September 30, the AIM-listed group reported a net asset value (NAV) of 9.43p per share, up from 8.82p at the end of March, while total investment gains for the half-year stood at £1.46mln.

WATCH: FastForward Innovations’ boss joins Leap Gaming board to spearhead 2021 London listing

The improvement in NAV was attributed party to the company’s investment in Yooma Corp, Asia’s first HEMP and CBD lifestyle company, as well as reported continued growth in fellow investee Leap Gaming.

Looking ahead, FastForward chairman Ian Burns said the company will continue to support its investments in the life sciences and technology spaces, adding that the group is “streamlining” it investment focus to focus on “areas where we have significant expertise, namely primarily health, wellness and medical cannabis”.

“We have a solid track record in the medical cannabis space and are confident that with the recent guidance from the FCA there are a number of both early- and late-stage opportunities that have the potential to deliver value for our shareholders. I look forward to providing further updates with regard to the continued development of our core assets and potential new opportunities in this space”, Burns added.

Shares in FastForward were 3.8% lower at 7.7p in early deals on Thursday.

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