23rd Feb 2021 12:00
(Alliance News) - Herald Investment Trust PLC on Tuesday said its performance improved in 2020.
The investment firm said net asset value as at the end of 2020 was 2,285.3 pence per share, up from 1,668.1p reported a year earlier. This represented an increase of 37% during the year, compared to an increase in the comparative total return indices of 4.9% from the Numis Smaller Companies plus AIM ex investment companies Index and an increase of 39% from Russell 2000 small cap Technology Index.
The discount at year end was 1.8%, narrowed from 11% the year prior, and the share price increased by 52% to 2,245.0p as at December 31.
Herald Investment Trust shares were trading 4.7% lower in London on Tuesday at 2,135.00p each.
The company said it has made a loss of GBP4.0 million swinging from a profit of GBP31,000 in 2019, giving loss per share of 6.00p versus profit per share of 0.05p. Therefore, the company said it will not be paying a dividend, unchanged year-on-year.
Going forward, the company noted that its income account has been hurt by an 18% decline in dividend income. UK dividends have fallen 25%, the company highlighted.
By Evelina Grecenko; [email protected]
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