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LONDON - Eight Capital Partners (AQUIS:ECPE) plc (AQSE:ECP), a technology focused operating company, reported a profit of £18.3 million for the year ended 31 December 2024, compared to a loss of £18.9 million in the previous year.
The company’s performance was primarily driven by a £20.5 million fair value gain on investments, largely related to its Settlement Financial Instruments, which were acquired in exchange for its 1AF2 Bond holding in December 2024.
Revenue for the year fell to £48,000 from £602,000 in 2023, with the company’s subsidiary Epsion Capital generating income primarily from M&A transaction advisory services.
Eight Capital Partners, which focuses on fintech banking and asset management, reported net assets of £31.3 million at year-end, up from £12.8 million in 2023. The company ended the year with cash balances of £4,000.
Chairman Dominic White stated that 2024 was "a year of sourcing and negotiating investment transactions, sale of the Company’s 1AF2 Ltd listed bond asset, conversion of the remaining corporate debt into equity leaving the company debt free, and consolidation of the Company’s shares."
After the year-end, in January 2025, the company completed a capital reorganization, consolidating every 4,000 existing shares into one new ordinary share, and converted its remaining €1.08 million of 4.8% bonds into equity, leaving it debt-free.
The financial statements were published with a qualified audit opinion from Bright Grahame Murray LLP regarding the carrying value of the Settlement Financial Instruments.
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