Edinburgh Investment Trust PLC - Edinburgh, Scotland-based investor in primarily UK companies - Outperforms benchmark in half-year ended September 30, delivering a 7.8% net asset value total return compared to a 7.0% return from benchmark the FTSE All-Share index. NAV per share rises to 512.83 pence as at September 30 from 490.40p March 31. Positive stock contributions from home furnishing retailer Dunelm Group PLC, equipment rental firm Ashtead Group PLC, and engineering firm Weir Group PLC. First interim dividend 6.00p, down 6.3% from 6.40p. Re-sets annual ordinary dividend to 24.0p per share.
Chair Glen Suarez: "The portfolio contains a diversified range of businesses, both UK and non-UK listed, that are performing well operationally despite the evident short-term economic uncertainty arising from the Covid-19 pandemic. The holdings in the portfolio are also attractively valued. The last fortnight's news on Covid-19 vaccine developments is plainly helpful and has boosted equity markets. A Brexit trade deal with the EU would also generate greater international interest in the UK stock market. Combined, all these features leave your company well placed to generate attractive medium-term returns."
Current stock price: 519.00p
Year-to-date change: down 17%
By Anna Farley; annafarley@alliancenews.com
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Edinburgh Investment Trust PLC (EDIN)
Dunelm (DNLM)
Weir Group (WEIR)
Ashtead Group (AHT)