3rd Oct 2019 09:15
(Alliance News) - ICG Enterprise Trust PLC on Thursday said it has outperformed its benchmark in the first half of its current financial year, thanks to the strong performance of its portfolio.
The stock was trading 3.2% higher on Thursday in London at 900.00 pence a share.
The investment company reported NAV per share as at the end of July of 1,175.4p, up 11% from 1,056.5p on January 31.
The trust's NAV total return for the six months to July 31 was 12.4%, ahead of its benchmark, the FTSE All-Share, which returned 10.6% over the same period.
ICG Enterprise declared an interim dividend of 10p per share, unchanged compared to the year before.
"Our focus on defensive growth and companies with non-cyclical growth drivers has again translated into double-digit returns, and I am delighted with the continued strong performance of the portfolio," said portfolio manager Emma Osborne.
"Over the last 10 years the portfolio has generated a return of 18% per annum and looking across the portfolio the momentum in underlying profit growth positions it well to continue to generate strong returns for shareholders."
By Evelina Grecenko; [email protected]
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