15th Nov 2019 11:24
(Alliance News) - Dunedin Enterprise Investment Trust PLC on Friday said its net asset value increased in the third quarter, despite a valuation fall at same-day delivery business CitySprint.
Net asset value per share at September 30 stood at 427.9 pence, up 6.7% from 400.9p at the end of June.
Dunedin shares were untraded in London on Friday morning, last quoted at 347.96p each.
There was a GBP3.0 million valuation rise at consultancy firm Forensic Risk Alliance Ltd, and there GBP1.6 million upticks at administration services firm Hawksford and insurance services provider Kingsbridge Risk Solutions Ltd.
On the flip side, CitySprint suffered a GBP3.4 million valuation fall.
Dunedin Enterprise said: "CitySprint continues to experience a competitive market place in which margins are under pressure reducing maintainable earnings."
Looking ahead, the trust said it does not anticipate a "significant impact" from Brexit.
The trust explained: "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.
"The board welcomes the strong trading performance of several portfolio companies and the returns which have been delivered for shareholders by the underlying investment performance."
By Eric Cunha; [email protected]
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