Millennium Food-Tech investments prove profitable
The R&D partnership's first financial report showed profit of NIS 28 million in 2020.
Millennium Food-Tech R&D Partnership (TASE: MIFT) has reported profits of NIS 28 million, representing NIS 0.58 profit per partnership unit. The first annual financial report of the partnership as a public company provides a detailed look into its investment portfolio and the profit it has recorded. Millennium Food-Tech has raised NIS 94 million to date.
The financial report shows that through the three investments that have been made to date, the company has appreciated to an overall fair value (as of December 2020) of NIS 58.5 million, while cash worth NIS 58.9 million remains in its coffers, which could allow it to meet the short to medium term investment target it set itself.