8th May 2019 13:25
LONDON (Alliance News) - Dunedin Enterprise Investment Trust PLC said on Wednesday its net asset value rose in the first quarter of 2019 over the previous quarter.
The trust's net asset value per share as at March 31 stood at 427.2 pence, down from 451.9p the same date the year before, but up from 412.9p at the end of December.
Within Dunedin's managed portfolio, the largest value increases were from Red Commerce, up GBP2.0 million; Forensic Risk Alliance, up GBP1.6 million; and Kingsbridge Risk Solutions, up GB1.1 million.
The valuation increases were offset by a reduction by the valuation of CitySprint by GBP1.9 million, due to margin pressure as a result of competition in the delivery service market.
Dunedin's managed investments as at March 31 rose to GBP65.3 million from GBP59.2 million the prior year.
"There continues to be significant uncertainty regarding the final outcome of Brexit. While the board does not expect there to be any significant impact from Brexit on the operations of the company itself, each of our portfolio companies has developed plans to cater for a variety of outcomes which will be continually reviewed as the course of Brexit becomes clearer," Dunedin said.
Shares in Dunedin Enterprise were down 2.5% at 346.18 pence on Wednesday.
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