TMT Investments has posted strong first half results that sees it recover to a healthy position of profit after a difficult 2020.
The data published by the firm shows how the half-year up to 30 June 2020 had been difficult, with the uncertainty of the pandemic greatly impacting investments and investors.
However, since then it appears the company has performed strongly amidst uncertain and often tough conditions.
Its gains on investments for the half-year up to 30 June 2021 read as $41,971,813. That is compared to the $1,194,048 loss they made for the same period in 2020.
Indicative of such an improvement, its assets have also seen a sharp upturn. From $184,295,280 at the end of 2020 to $222,758,033 at the end of June 2021.
By the end of June 2020 shareholders were losing 5.91 cents on every share, that has since recovered to a healthy 139.5 gain on every share.
Alexander Selegenev, the executive director, said: “The first half of 2021 saw continued growth across the TMT Investments portfolio, with structural business and economic drivers continuing to benefit the Company’s global portfolio of high growth technology investee companies as a result of evolving customer trends and the accelerated shift to remote working.”
Selegenev will be particularly encouraged by the increase in equity that he has overseen in the past twelve months.
Total equity has swelled from $177,922,707 to $218,637,986.
“The period also saw sustained investor interest in the high-growth potential of business models based on digital, online and remote technologies, resulting in a significant increase in fundraising activities by technology companies around the world,” Selegenev said.
“These two factors resulted in a continued trend of positive revaluations and cash realisations across TMT’s portfolio.”