26th Sep 2014 09:00
LONDON (Alliance News) - Graphite Enterprise Trust PLC Friday said its net asset value total return grew by 2.9% over the six months to July 31, while its share price outperformed its benchmark.
The investment company said its NAV per share was 681.2 pence as at July 31, compared with 677.2 pence as at January 31.
It said its share price total return rose 5.7% over the six month period, outperforming its benchmark, the FTSE All-Share Index, which rose 4.5%.
"The portfolio performed well, driven by a number of successful realisations and by continued growth in the profits of underlying companies. The benefit of this was partially offset by adverse currency movements. The share price has been very strong over the last year, increasing by 22%," the company said in a statement.
Graphite Enterprise said it paid a record GBP11.3 million dividend in June, or 15.5 pence, the highest in the company's history.
The company said it made a number of new investments over the six month period, investing a further GBP53 million.
Shares in Graphite Enterprise Trust were trading 0.32% higher Friday morning at 594.88 pence per share.
By Rowena Harris-Doughty; [email protected]; @rharrisdoughty
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