6th Apr 2023 09:26
(Alliance News) - Gresham House Energy Storage Fund PLC said on Thursday a stronger net asset value per share for 2022, building on its "strong track record".
The London-based asset manager, focused on sustainable investments, said its NAV per share at December 31 was 155.51 pence, up 33% from 116.86p the previous year. The NAV total return was 39.1%.
Gresham House Energy added that earnings before interest, taxes, depreciation, and amortisation were GBP48.8 million, a 15% increase from the year before.
Gresham House Energy also said its total dividend for 2022 was 7.0 pence, unchanged from the previous year.
The company also noted that its 2022 pretax profit was GBP217.1 million, jumping from GBP80.3 million the year before.
Looking ahead, Gresham House Energy said it expects its NAV per share to rise to 3.3p during the first quarter of 2023.
The company also said it intends to pay a dividend of 7.35p per share for 2023, a 5.0% increase from 2022.
Chair John Leggate said: "We are exceptionally well-positioned to capitalise on the exciting battery energy storage opportunities ahead of us in the UK and our targeted international markets."
Shares were up 1.4% at 159.36 pence in London on Thursday morning.
By Sabrina Penty; Alliance News reporter
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