Last checked at 18 May 2012 11:30
Date: 18th May 2012 On behalf of: London Finance & Investment Group P.L.C ("Lonfin" or "Company") London Finance & Investment Group P.L.C. Interim Management Statement
Lonfin today reports on its performance to date.
Since the 31st December 2011, our net assets per share, including investments at market value, increased by 3.8% from 32.7p to 33.93p at 30th April 2012. The Company's General Portfolio of equities increased in value by 6.4% compared to an increase in the Eurofirst 300 index of 5.0%. The value of our Strategic Investments: Western Selection P.L.C., Finsbury Food Group plc and MWB Group Holdings Plc increased marginally in the period with a 10.5% rise in the value of our holding in Western Selection P.L.C. offset by falls in the other two holdings.
Following the disposal of the London investment property earlier this year, we have recently started to invest the sale proceeds in blue chip stocks held in our General Portfolio. This will be a gradual process as the aim is to buy the shares at what the Board considers to be good value.
The Board remains cautious about the remainder of the Company's financial year given the continuing uncertainty in the Euro-zone.
Enquiries to:
London Finance & Investment GroupP.L.C. Edward Beale 020 7448 8950 Notes to Editors:
â— Lonfin is an investment company whose assets primarily consist of three
Strategic Investments and a General Portfolio. Strategic Investments are significant investments in smaller UK quoted companies and these are balanced by a General Portfolio, which consists mainly of investments in major U.K. and European equities.
â— Its strategic investments comprise: Western Selection P.L.C., MWB Group
Holdings Plc and Finsbury Food Group plc. Western Selection P.L.C. has
strategic investments in Creston plc, Swallowfield plc, Northbridge
Industrial Services plc and Hartim Limited.
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