30th Sep 2015 15:17
LONDON (Alliance News) - London Finance & Investment Group PLC Wednesday reported a rise in net asset value per share of 12.1%, and its strategic investments rose in value by 23% due to the increased value of its investment in Finsbury Food Group PLC.
The investment company reported a pretax profit of GBP2.3 million for the year to end-June, swung from a pretax loss of GBP130,00 a year before, as a result of a gain from the change in the carrying value of its investments.
Net asset value per share rose to 50.1 pence from 44.7 pence during the year, the company said.
"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 notwithstanding any short term volatility in markets, currencies and commodities," the company said in a statement.
The company proposed a final dividend of 0.5 pence, taking its total dividend for the year to 1 pence, up from 0.9 pence a year before.
Shares in London Finance & Investment rose 1.4% at 36.00 pence Wednesday afternoon.
By Hana Stewart-Smith; [email protected]; @HanaSSAllNews
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