- Investment group Thalassa reported a full-year loss but said it had a enough cash to ride out the Covid-19 crisis.

Pre-tax losses for the year through December amounted to $3.8m, compared to losses of $6.5m on-year.

'In the board's opinion, a smooth global economic recovery from the impact of Covid-19 is unlikely,' Thalassa said.'

'The directors have considered a number of potential downside scenarios and taken steps to minimise any impact on the group.'

'Actions have been taken across all group companies to reduce our outgoings where possible.'

'The group has fully assessed its financial commitments and as at the time of writing has net cash of $10.5m plus a further $5.5m of available for sale investments.'

'We are confident that the company can mitigate any potential impact from Covid-19 and can deploy its capital profitably.'

At 8:56am: [LON:THAL] Thalassa Holdings Ltd share price was +4.5p at 53p

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