Arrow Global swings to loss for the first half

European investor and asset manager Arrow Global posted a loss for the first half of the year, as it booked a non-cash charge of 133.6 million pounds associated with revaluing its balance sheet against the COVID-19-related uncertainty.

Aug 25 (Reuters) - European investor and asset manager Arrow Global ARWA.L posted a loss for the first half of the year, as it booked a non-cash charge of 133.6 million pounds associated with revaluing its balance sheet against the COVID-19-related uncertainty.

The company, which deals with non-performing and non-core assets, posted loss after tax of 110.4 million pounds for the six months ended June 30, versus a profit of 24.3 million pounds a year earlier.

Arrow said the collections performance was improving.

(Reporting by Muvija M in Bengaluru; Editing by Shailesh Kuber)

((muvija.m@tr.com; within UK: +44 20 7542 1810, outside UK: +91 80 6182 2698; Mobile: +91 90 4702 2289;))

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