15th Nov 2013 12:47
LONDON (Alliance News) - Shires Income PLC Friday said it net asset value per share increased by 0.8% in the half year ended September 30, while its total return on net assets increased by 3.5%.
Net asset value increased to 236.30 pence on September 30, from 234.37 pence on March 31.
The total return of 3.5% lagged the FTSE All-Share Index's total return by 0.3 percentage points. The total return of the company's share price was 2.2% and the share premium decreased during the six months to a discount of 0.56%.
"Your manager will continue to invest in the kind of high quality companies that the company currently owns. These are businesses that should be able to deliver growth in earnings and hence dividends through the economic cycle. They are supported by strong balance sheets that give them flexibility in difficult times and options when conditions are more favourable," Anthony B. Davidson, chairman, said in a statement.
The company made a GBP2.4 million pretax profit in the half year, compared with GBP4.3 million for the corresponding period last year. The disparity was primarily because Shires Income's gains on investments totalled GBP553,000 compared with GBP2.6 million for the corresponding period last year.
Shires Income shares were Friday quoted up 0.01 pence, at 238.01 pence.
By Samuel Agini; [email protected]; @samuelagini
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