1st Oct 2018 18:29
LONDON (Alliance News) - London Finance & Investment Group PLC said Friday that its annual profit dropped despite posting unchanged net assets.
For the year to June 30, the company's pretax profit dropped to GBP175,000 from GBP1.2 million a year prior.
Net assets per share remained unchanged at 65.4 pence, the company said.
The company declared a final dividend of 0.60p per share, increasing the total dividend to 1.15p per share compared to 1.1p a year ago.
Looking ahead, London Finance said that "political and economic uncertainty around the world continues", especially in the UK given the ongoing negotiations with the EU over the terms for Brexit.
"There are clearly greater challenges ahead but your board believes the company's mix of strategic investments and the company's general portfolio of international investments will give us opportunity to outperform the broader market in the medium to long term," it added.
London Finance & Investment shares closed flat at 42.50p on Monday.
Related Shares:
Lon.fin&inv.grp