LONDON (Alliance News) - London & St Lawrence Investment Co PLC reported Friday that its return for its most recent financial year was less than that of the FTSE All-Share Index, and its discount of share price to net asset value widened.
London & St Lawrence reported a total return on a net asset value per share basis of 5.2% for the twelve months to August 31, compared to a total return from the FTSE All-Share Index of 7.6% over the same period. The NAV per share of the company stood at 381.76p at August 31, up from 362.97p the year before.
London & St Lawrence's total return on ordinary share price was negative 4% over the period, leaving its share price at a 9.8% discount to net asset value at August 31, widened from 1.2% at the same date in 2015.
Shares in London & St Lawrence were untraded at 350.00p Friday morning.
The revenue return per share of the company for the financial year was 15.38 pence, a 5.6% increase on the previous year. Total dividends for the year amounted to 14.8p per share, a 3.5% increase year-on-year.
London & St Lawrence, which invests in trusts, maintained its largest portfolio holding in privately-held Consistent Unit Trust, with a market value of GBP12.9 million. During the financial year Edinburgh Investment Trust PLC became its second biggest holding at GBP5.2 million, overtaking Aberforth Geared Income Trust PLC at GBP5.0 million.
By Adam Clark; adamclark@alliancenews.com
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Edinburgh Investment Trust PLC (EDIN)