21st Nov 2013 12:17
LONDON (Alliance News) - Hansa Trust PLC Thursday said its half-yearly net asset value total return was 0.5%, as it returned to health following the negative total return of 1.8% reported for the year ended March 31.
"Since September 30 2008, shortly after the Lehman Brothers debacle, our net asset value has risen by 260.1 pence per share - albeit in a rather roller coaster manner given the volatility of the stock market - and we have paid out dividends of 77.5 pence, providing a total return of 335.6p or 41.1%. That compares with a total return of our benchmark of 24.5%," Alex Hammond-Chambers, chairman, said in a statement.
According to Hansa's income statement for the six months ended September 30, the trust made GBP2.5 million in losses in investments held at fair value, which restricted total returns.
Revenue increased to GBP4.9 million from GBP4.4 million last half year.
"The outlook for it [Hansa's portfolio] continues, we believe, to be most promising benefiting as it does from excellent management and good commercial prospects," Hammond-Chambers said.
"It is also encouraging that a number of our other larger holdings in smaller companies are also doing well - particularly NCC Group, Herald Investment Trust, Kofax, Goals Soccer Centres, Hansteen Holdings and Galliford Try," Hammond-Chambers added.
Hansa Trust's net asset value declined by 0.6% to 1,076.5 pence over the first six months - largely as a result of 11.5 pence dividend declared at the year end. Hansa Trust's holding in Ocean Wilsons declined in value, which reduced the net asset value by around 35 pence per share, but that was more than offset by the improvement in value of the rest of the portfolio. The rest of the portfolio contributed around 40 pence to the net asset value.
Hansa shares were Thursday quoted at 858 pence, down 1.1%.
By Samuel Agini; [email protected]; @samuelagini
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