17th Apr 2020 16:10
(Alliance News) - Herald Investment Trust PLC on Friday said only a "modest" numbers of its investees have been hurt by the Covid-19 outbreak, though the virus crisis stopped further growth in its net asset value.
During the company's annual general meeting, Herald's Chair Ian Russell said its net asset value per share rose 28% in 2019.
"It rose further during 2020 until February 20 when the market was adversely affected by the coronavirus pandemic," Russell added.
"Covid-19 is clearly having a widespread adverse, but as yet unquantifiable, impact on corporate profitability. However, of the approximately 300 holdings in the company, to date only a modest number have been materially affected and many investee companies are experiencing increased demand."
In the year to date, Herald's NAV has declined by 12%.
Shares were 2.0% higher at 1,300.98 pence each in London on Friday afternoon.
By Eric Cunha; [email protected]
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