6th Mar 2015 08:42
LONDON (Alliance News) - Athelney Trust PLC on Friday reported a rise in its net asset value in 2014, along with a hike to its dividend payout, despite the company saying market conditions had been difficult over the year.
The trust, which invests in small companies and junior markets, said its net asset value rose to 228 pence per share over the year from 219.3 pence at the end of 2013.
The group did hike its final dividend for the year to 6.7 pence per share, up 22% from the 5.5 pence paid out a year earlier.
"Squeezing out a modest overall return proved more difficult than expected in 2014," said Chairman Hugo Deschampsneufs, though he noted the 4% increase in NAV which, including the dividend, gives a total return for the year of 6.5%.
"Yet 2015 looks like being a tricky year. My opinion, for what it is worth, is that smaller companies are better value than blue chips and that, with a decent tail wind, a modest uplift in asset prices of equities and commercial property is the most likely outcome," Deschampsneufs added.
By Sam Unsted; [email protected]; @SamUAtAlliance
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