11th May 2018 18:28
LONDON (Alliance News) - North Atlantic Smaller Companies Investment Trust PLC said Friday its total return per share was nearly four times higher than the previous year.
The total return per share was 35.62 pence, up from 8.97p the previous year.
For the year ended January 31, the investment company basic net asset value per share was 3,462 pence per share, 17% higher than the previous year at 2,971p.
The company described it a "good year" for the UK portfolio with rises in all the major holdings with a particularly strong performance from Ten Entertainment Group PLC, whose equity value rose to GBP51.6 million.
MJ Gleeson Group PLC rose 34% and EKF Diagnostics Holdings PLC performed well rising by 60% following three profit upgrades.
Bioquell PLC rose by nearly 120% as the new management reduced costs and focused the business.
In the US the whole bank portfolio performed "very well" the company said.
"As I stated in last year's annual report, we had confidence in the performance of our investment portfolio and this indeed proved justified by the satisfactory rise in our net asset value," Chairman Peregrine Moncreiffe said.
Shares closed at 2,710.00 pence, up 0.4%.
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