18th Jul 2018 17:17
LONDON (Alliance News) - Bankers Investment Trust PLC said Wednesday that its net asset value per share rose in the six months to the end of April.
For the half-year, the trust recorded net asset value per share of 868.7 pence. In the comparative year ago period, NAV per share was 798.3p.
Net asset value total return at April 30 was negative 1% against the company's benchmark FTSE World Index return of 0.2%.
"The past six months has been a difficult period for global stock markets as a combination of the impact of inflationary concerns and greater prominence to political issues began to weaken the positive investor sentiment of the past two years," Chairman Richard Killingbeck said.
"In the UK the addition of corporate profit warnings and a demonstrable softening in economic activity added to the uncertainty. Thus it is not surprising to report disappointing benchmark and portfolio total return figures for the six month period."
In the six months, the company issued two interim dividends totaling 9.72p per share, up from the same period last year at 9.10p.
The company reiterated its forecast for a dividend growth of 6% for the year to October.
Shares in the trust closed up 0.9% at 891.00p.
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Bankers Investment Trust