22nd Nov 2018 13:04
LONDON (Alliance News) - Worldwide Healthcare Trust PLC on Thursday said it underperformed its benchmark in the first half despite increasing in net asset value per share by 20%.
For the six months to September 30, net asset value total return stood at 20.0% versus 2.8% at March 31. The firm underperformed against its benchmark, the MSCI World Health Care Index, which returned 23.3% in the period.
"While the company's performance has been strong in absolute terms, the healthcare sector outperformed the broader market during the period, it is disappointing to report a slight underperformance against the company's benchmark," Chairman Martin Smith said.
Net asset value per share, at September 30, was 2,880.5 pence versus 2,411.1p at the end of March.
Revenue for the half-year was GBP6.4 million, up from GBP4.2 million in the comparative year ago period.
"This increase came mainly as a result of a rise in the yield from portfolio investments and also sterling's depreciation against the US dollar in the period," the firm explained.
The board declared an unchanged first interim dividend of 6.5p per share.
Looking ahead to the second half, the investment trust said it is confident that its investment strategy "will continue to be successful in the long term", despite increased market volatility.
Worldwide Healthcare Trust shares were trading down 1.25 at 2,520.00 pence each.
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