Our opinion on the current state of ASTORIA(ARA)Astoria (ARA) is an investment company that was formed to give investors exposure to an international selection of equities in developed economies.
The share trades well below its NAV and has only recently begun trading after being suspended from September 2020 to April 2021. The company benefited from the sale of "non-lethal self-defence" products during the period as a result of the civil unrest. It owns one-third of Outdoor Investment Holdings, a 35.7% stake in Trans Hex, and has sold its stake in CNA.
On 19th April 2021, the company announced that following the distribution of 51.15m shares, trading in the company's shares had resumed.
In its results for the six months to 30th June 2024, the company reported headline earnings per share (HEPS) of 79.29c compared with a loss of 18.32c in the previous period. The company's net asset value (NAV) rose from 74.76c (US) per share to 77.2c.
In an update on the 3 months to 30th September 2024, the company reported headline earnings per share of 70.62c compared with a loss of 7.3c in the previous period. The company's net asset value (NAV) was slightly higher at 1407.67c per share.
In a trading statement for the year to 31st December 2024, the company estimated that its NAV would be between 59.6c (US) and 63.58c—a decrease of between 20% and 25%.
Volume traded on the share has increased to R131,000 worth of shares per day on average, with some days without any trades. It remains in a downward trend.
