17th Aug 2018 12:04
LONDON (Alliance News) - British Smaller Cos VCT PLC said Friday its net asset value per decreased in the first quarter despite a higher total return per share.
In the quarter from March to June, British Smaller Cos net asset value per share decreased 3.0% to 77.2 pence per share from 79.6 pence per share.
The trust's net asset value decreased 1.5% to GBP84.8 million from GBP86.1 million at the end of the previous quarter.
British Smaller Cos did, however, post a higher return per share of 217.6p, up from 216.0p at the end of the last quarter.
The company said the payment of the annual dividend in the quarter led to total returns increasing.
The company's portfolio value increased GBP1.7 million in the quarter.
British Smaller Cos said it is considering a "full-prospectus fundraising" during the current financial year.
looking ahead, the company said it remains "highly selective" when making investments and has seen "many" of its more mature investments "continue to deliver good returns".
The trust also said it hopes shareholders "will take advantage" of the company's planned fundraising later this year.
Shares in British Smaller Cos went untraded Friday but last closed at 71.00 pence each.
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