19th Jul 2018 17:57
LONDON (Alliance News) - Miton UK MicroCap Trust PLC said Thursday its net asset value per share increased in the year ended April despite the company's revenues decreasing.
Miton UK MicroCap's NAV per share increased to 69.33 pence from 64.27 pence the year before, a 7.9% rise. The company's revenue dropped to GBP464,000 from GBP822,000.
The company's total net assets increased to GBP118.7 million from GBP111.2 million the previous year.
Miton UK MicroCap saw mixed results against its comparative indices. The FTSE SmallCap Index generated a return of 6.1%. The FTSE AIM All-Share Index, however, returned 10.7% and the FTSE All-Share Index returned 8.2%.
The company's performance was driven by a number of holdings that "performed very strongly". Kape Technologies, Frontier IP, Zotefoams and Wey Education "all rose so much that they each returned more than 1% to the return of the company alone".
Yu Group and Versarien could have returned "more than" 2%, according to Miton UK MicroCap.
Looking ahead, the company believes its strategy "remains well paced to generate premium returns", despite "more unsettled equity market conditions" and the prospect of slower UK growth.
Shares in Miton UK MicroCap closed down 0.7% Thursday at 67.45 pence each.
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Miton Uk