18th Jun 2025 08:43
(Alliance News) - Personal Assets Trust PLC on Wednesday reported an increased net value per share after being "more than active" than usual in rejigging its portfolio.
Net asset value per share rose 5.8% to 515.22 pence in the year that ended April 30 from 487.05p a year prior, outperforming the FTSE All-Share Index which rose 3.7%. NAV per share total return was 7.5%, in line with the index.
For the recent financial year, Personal Trust declared dividends of 5.60p per share plus a special dividend of 1.60p.
The company said it remains committed to paying an annual dividend of 5.60p.
Return before tax more than doubled to GBP121.3 million from GBP51.3 million as total income leapt to GBP132.2 million from GBP62.5 million.
Return per share grew to 34.56p from 12.03p.
The company said the biggest contributors to performance during the year included holdings in Visa Inc, VeriSign Inc, Unilever PLC and American Express Co. The biggest detractors were Diageo PLC and Pernod Ricard SA, which "continue to suffer from weaker trading in spirits markets."
The trust sold long-term holdings in Becton Dickinson & Co and Procter & Gamble Co, as changes to the portfolio were "more active than usual".
The company added new holdings of Canadian National Railway Co, Chubb Ltd and VeriSign, LVMH Moet Hennessy Louis Vuitton SE and L'Oreal SA.
It said it has reduced dollar exposure in favour of the yen, while gold remains a cornerstone of the portfolio.
Shares in Personal Assets Trust rose 0.5% to 515.40p each in London on Wednesday.
By Jeremy Cutler, Alliance News reporter
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