15th Dec 2016 11:07
LONDON (Alliance News) - Miton UK MicroCap Trust PLC said Thursday that returns on small companies were comparatively low to large international companies in the first half, due to the weakness of the pound.
Miton UK MicroCap reported its net asset value per ordinary share at October 31 stood at 57.03 pence, up 3.9% from 54.91p at April 30. The total net assets of the company increased to GBP94.0 million from GBP60.4 million.
Revenue return per share over the six month period was 0.35p, increased from 0.32p.
The share price of the trust stood at 56.63p and a 0.7% discount to net asset value at the end of the period, down from 56.75p and a 3.4% premium at April 30.
Shares in Miton UK MicroCap were up 0.4% at 55.97p Thursday morning.
Miton UK MicroCap said that share prices of the smallest UK companies have been "out of the limelight" in the period, as attention focused on large international companies benefiting from depreciation of sterling. However, the trust said it had seen a "good uplift in dividend income" over the half year.
By Adam Clark; [email protected]
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