Candover NAV per share drops 10%

Candover saw its investment portfolio decline by £11.3m, a 6.5% reduction since the end of 2011. This was attributed to adverse foreign currency movements, as well as write-downs in theme park operator Parques Reunidos, photonic products specialist Qioptiq and oil & gas business Stork.

The firm however reduced its net debt from £38m to £16.5m between December 2011 and the end of June 2012.

Candover shares were trading at 354p this morning, down 2.5%. The firm's share price has been sliding down since February this year, when shares were trading at 514p.

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