30th Jul 2019 11:34
(Alliance News) - Premier Global Infrastructure Trust PLC on Tuesday reported an improvement in its net asset value in the first half of 2019 and said it has started the second half "well".
The investment company said its NAV per share as at June 30 was 136.79 pence compared to 112.55p recorded at the end of December 2018.
Gross assets total return was 12.4%, while the company's benchmark, the FTSE Global Core Infrastructure 50/50 Total Return Index GBP adjusted, returned 18.9%.
Premier Global's share price at the end of the first half stood at 117.50p, representing a 14% discount to NAV. Share price total return was 20% over the period.
The stock was trading 1.0% higher on Tuesday in London at 132.79 pence each.
The trust declared a 5.00p per share dividend for the six months to the end of June, unchanged on the year prior.
"It was pleasing to see the NAV on an upward trajectory during the first six months, and the second half has also started well," said Chair Gillian Nott.
"The managers are confident that the strong underlying earnings growth in portfolio companies seen in 2018 can be repeated in 2019. Consequently they believe that the outlook for the company's income account is robust," added Nott.
Related Shares:
PGIT.L