Zeta Resoures Chair says its been a very successful year with $31m net profit

Company News

by Anna Napoli

Zeta Resources (ASX:ZER) held its annual general meeting in Sri Lanka yesterday, and Chairman Peter Sullivan says its been a very successful year with net profit of just over $31 million.

The resource focused investment holding company saw a 57 per cent increase in net tangible asset value per share.

The acquisition of Axelrock Limited was a significant transaction for the company providing a nearly 50 per cent increase in portfolio value and equity base.

The business says its well positioned to see further upside in many of its investment positions through both commodity price shifts and the respective development activities being undertaken.

Shares in Zeta Resources (ASX:ZER) closed 1.22 per cent lower to 41 cents.

Anna Napoli

Finance News Network
Anna joined FNN February 2018 and also works with Channel 7 as a freelance producer. Anna has also worked as a lawyer and lecturer. She has also presented news updates for interstate news with Southern Cross Austereo.