Shares in ASA International Group PLC were up early Tuesday after the company said that pretax profit for 2021 increased significantly, driven by recovery from the Covid-19 pandemic.
Shares at 0709 GMT were up 12.0 pence, or 17%, at 82.0 pence.
The London-listed microfinance company said pretax profit was $25.7 million, up from $2.6 million in 2020. However, it was below prepandemic levels of 2019 when it reported $54.3 million.
Net profit was $6.4 million compared with a net loss of $1.4 million in 2020.
The company said it expects performance in 2022 to improve as it benefits from a positive first quarter.
It said liquidity remains high, with approximately $103 million of unrestricted cash as at March 31, and a pipeline of funding deals of around $205 million under negotiation.