Aberdeen New Thai Investment Trust PLC - Net asset value total return for six months ended August 31, with dividends reinvested, comes to negative 5.7%, underperforming against the Stock Exchange of Thailand index, sterling adjusted, which delivers a negative 3.1% return for the same period. Chair Nicholas Smith says "exposure to the financial sector, energy, and resources stocks were significant detractors to performance." NAV per share falls to 480.39 pence as at August 31 from 520.22p on February 28. Maintains interim dividend per share at 8.00p.
Smith: "At the corporate level, I believe that Thai listed companies remain resilient and able to weather the current storm. As a long term investor, your manager's focus continues to be on quality companies with solid fundamentals, such as robust balance sheets, good cash flow and prudent management. Ultimately, I remain confident that the company's high quality underlying holdings will stand your company in good stead, well beyond the current global health crisis."
Current stock price: 410.22p
Year-to-date change: down 25%
By Anna Farley; annafarley@alliancenews.com
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