7th Oct 2013 14:24
LONDON (Alliance News) - Schroder Japan Growth Fund PLC Monday said revenue increased for the full year, as it invested in a number of new companies.
The group, which invests in Japanese stocks, reported revenue of GBP3.6 million for the 12 months ended July 31, up from GBP3.7 million a year earlier.
Schrdoder said its net return before finance costs and taxation increased to GBP47.6 million, compared with a GBP4.3 million loss in 2012, while net return on ordinary activities before tax swung to GBP47.4 million, from a GBP4.6 million loss a year earlier.
"During the year we took profits in some of the more strongly performing small cap positions such as Sakata Inx, T&K Toka, both ink manufacturers, and Accordia Golf, the golf course operator which was the subject of a hostile takeover bid," Schroder said.
New additions to the portfolio included Japan Airlines, which returned to the market via an initial public offering following a government led-rehabilitation, and Konica Minolta.
Schroder said its net asset value increased 37.5% during the period, while net gearing remaind broadly unchanged at 11%.
The board proposed a final dividend of 1.75 pence per share.
The stock was trading at 119.50 pence Monday, up 0.50 pence or 0.4%.
By Anthony Tshibangu; [email protected];
Copyright 2013 Alliance News Limited. All Rights Reserved.
Related Shares:
Schroder Japan