GLI Finance shares fall as logistics doesn’t deliver

AIM-listed financial services firm GLI Finance (LON:GLIF) watched its share price plummet by 32.41% to 4.90p (as of 15:30 GMT) after it provided negative updates on a number of its operations. The firm said that it expected to make further write-downs on its Fintech Ventures portfolio where it has become increasingly difficult to raise capital at the expected valuations.

It was also flagged that the Sancus Finance supply chain finance division continued to be loss making over the year ended 31st December. The group has elected to close these operations and this will be recognised during the 2018 results.