Baillie Gifford European Growth Trust PLC - London-based investor in European securities - In the financial year that ended September 30, net asset value with borrowings at fair value climbs 5.2% to 96.7 pence per share from 91.9p a year prior. NAV total return for financial 2023 of positive 8.3% underperforms against comparator index, the FTSE Europe ex UK index, which delivered positive 20.5% in sterling terms. Declares final dividend of 0.40p per share, down 43% from 0.70p a year prior. Looking ahead, the company says it is "increasingly optimistic about the future", with operational progress in line with its own expectations. "We are seeing many affirming signals that our companies are taking advantage of this environment, investing while peers retrench, carrying out acquisitions, and buying back shares. We are not the only ones who think the sell-off is overdone," it adds.
Current stock price: 85.95 pence, up 1.0% on Friday
12-month change: down 6.1%
By Tom Budszus, Alliance News reporter
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Baillie Geu (BGEU)