2nd Oct 2015 08:00
LONDON (Alliance News) - The Investment Co PLC Friday reported a fall in its net asset value per share and huge drop in total return in its recently-ended financial year, which it blamed on the financial difficulties in Greece and China.
The company said that its NAV per share fell 1.3% to 389.34 pence in the year ended June 30, from 394.41p the year before, as its total return declined to 16.9p from 67.0p.
It said that the "modest" return in the year reflected unsettled market conditions in Greece, as well as increased anxiety surrounding the Chinese stock market.
The FTSE All-Share Index generated a total return of 2.6% during the year, while the FTSE SmallCap achieved 8.4% growth and the AIM All-Share Index was down 2.5%. The FTSE Actuaries Government Securities UK Gilts All Stocks Index total return was 5.3%.
The Investment Co paid 23.6 pence in dividends during the year, up from 20.72p the year before.
"We continue to believe the company remains well-placed to deliver attractive
returns for shareholders in the coming years," Chairman David Thomson said in a statement.
Shares in The Investment Co were untraded Friday morning, last quoted at 364.50 pence.
By Karolina Kaminska; [email protected] @KarolinaAllNews
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