LONDON (Alliance News) - Finsbury Growth & Income Trust PLC on Tuesday said its outlook remains optimistic after it outperformed the benchmark in the first half of its current financial year.
The investment company reported net asset value per share of 827.6 pence as at March 31, up 1.8% from 812.8p reported at the end of September 2018.
The trust's share price at the end of its first half stood at 829.0p, representing a 0.2% premium to NAV.
The stock was trading 1.1% higher on Tuesday afternoon at 876.56p a share.
Finsbury Growth & Income Trust reported NAV total return of 2.4% for the period, outperforming its benchmark, the FTSE All-Share Index, which returned negative 1.8%.
The principal contributors to the company's net asset value performance were beverage company Diageo PLC, confectionery firm Mondelez International Inc, and enterprise software company Sage Group, it said.
The company upped its interim payout by 11% to 8.0p from 7.2p paid the year before. The trust said it expects to declare the second dividend for the year ending in late September.
"As we look forward, our portfolio manager remains optimistic about the outlook and opportunities for the companies in our portfolio," said Chair Anthony Townsend.
Finsbury Growth (FGT)
Sage Group (SGE)
Diageo (DGE)