Listed investment company Bailador Technology have reported an increase in profits for the year to 30 June. Net profit rose 23 per cent to $34 million while gains on financial assets rose 36 per cent to $70.7 million.
“Soon after we signed binding agreements, global share markets suffered steep falls. Technology stocks, especially unprofitable ones, fell the hardest,” they said. The investment company is sitting on $144 million in cash to “take advantage of additional investment opportunities”, up from $44 million this time last year.
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