13th May 2015 08:43
LONDON (Alliance News) - Dunedin Enterprise Investment Trust PLC on Wednesday said its net asset value rose in the first quarter, though its share price underperformed its benchmark.
Dunedin Enterprise said its net asset value per share rose to 515.5 pence in the quarter to the end of March, up 1.0% from December. Its share price in the quarter was down by 3.5% from end December to 340.00 pence, against a 4.9% rise in the FTSE Small Cap Index.
Dunedin Enterprise said valuation increases for its investments in CitySprint and Kee Safety were offset by weak performances for EV Offshore Ltd and Premier Hytemp, which have both been hit by the fall in the world price of oil.
Shares in the trust were up 0.7% to 345.75 pence Wednesday.
By Sam Unsted; [email protected]; @SamUAtAlliance
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