15th May 2023 11:32
(Alliance News) - Finsbury Growth & Income Trust PLC on Monday said net asset value was up in the first half of its financial as it swung to a return on investment.
The investor in UK-listed companies, which is managed by Lindsell Train Ltd, posted NAV at March 31 of 941.6 pence per share, up 11% from 848.4p per share at September 30.
The firm said NAV total return for the first half to March 31 was 12.3%, the same as its benchmark, the FTSE All-Share index.
Pretax return on investment for the period was GBP216.8 million, swinging from a loss of GBP46.3 million a year ago.
Finsbury Growth said it expects to declare a second interim dividend in the autumn.
Looking ahead, the company said it is optimistic about "the outlook and opportunities for the companies in our portfolio", but noted that political uncertainty in the UK and higher inflation is proving "more persistent" than many had hoped.
Finsbury Growth & Income shares rose 0.7% to 906.93 pence each in London on Monday morning.
By Harvey Dorset, Alliance News reporter
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