Throgmorton Trust Share News (THRG)

(Alliance News) - BlackRock Throgmorton Trust PLC on Tuesday reported an 11% increase in its net asset value per share in the first half of its current financial year.

The investment firm reported NAV total return for the six months to the end of May of 12%. In comparison, the company's benchmark, the Numis Smaller Cos plus AIM (excluding Investment Companies) Index, returned 4.7% over the same period.

BlackRock Throgmorton's NAV per share as at May 31 stood at 574.33 pence, up from 519.08p reported at the end of November last year.

The trust share price at the end of the first half was 532.00p, representing a 7.4% discount to NAV.

The stock was trading 0.5% higher in London on Tuesday afternoon at 544.69p per share.

BlackRock Throgmorton maintained its interim payout at 2.50p a share.

Since the period end and up to the close of business on Friday last week, the NAV has risen by 1.3%, the company said, and the benchmark index has fallen by 0.7%.

Looking ahead, Chair Christopher Samuel said: "A number of macroeconomic and political risks which could negatively impact performance remain, not least a further deterioration in the economic outlook."

"Overall, your board believes the company is well positioned to continue to meet its objectives of providing shareholders with long-term capital growth and an attractive total return," added Samuel.