30th Sep 2013 08:20
LONDON (Alliance News) - London Finance & Investment Group PLC Monday said its net asset value per share rose over the year on the back of a strong performance from its investments, particularly Finsbury Food Group PLC.
LFIG said its net assets increased 45% to 45.7 pence per share compared with 31.6 pence last year.
"We believe our mix of strategic investments and a general portfolio gives us every chance of outperforming the broader market in the medium to long term. However, as a board we do concern ourselves that large scale quantitative easing by central banks is creating a market that is divorced from economic reality," the company said in a statement.
Although its main investments did well in the main, Finsbury stood out for its performance, which meant that it now accounts for 38% of LFIG's NAV, up from 19% in 2012.
LFIG made a GBP4.8 million pretax profit for the year ended June 30, up from GBP940,000 for the corresponding period the year prior.
LFIG increased its dividend for the year by 0.1 pence to 0.8 pence.
LFIG shares were Monday quoted at 32.00 pence, down 0.50 pence, or 1.5%.
By Samuel Agini; [email protected]; @samuelagini
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