LEG reported a net profit after tax of 2.4 million Pounds, or an equivalent of 0.1 pence, itself a record.
Total investments increased by 231%, while assets and net assets grew 205% and 201% respectively.
Much of the value was driven by Virtual Stock (VS)/ VS valuation more than doubled to 58 million Pounds for the period. LEG's stake in VS now values 4.1 million Pounds.
Elsewhere, Amedeo Resources completed building its first rig while Bosques generation one and two pongamia had germinated and were producing saplings. Bosques is expected to benefit from the climate change accord achieved in Paris.
LEG has also acquired a 5.5% stake and an option over an additional 4.5% stake in Manas resources, a gold exploration company. While the price of gold has fallen in the last 3 years, a potential global debt crisis could see a revival in the demand for the precious metal.
LEG is very much a long term play. I still see the eventual listing of VS as a potential catalyst which could see LEG rising more than 300%. in the next 2 -3 years. Based on its net profit and stake's value in VS, LEG is indeed undervalued. However, investing in the UK AIM carries with it high risks and you are advised to do your own due diligence.
My disclosure: I own shares in LEG
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