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LONDON (Alliance News) - Artemis Alpha Trust PLC said it swung to profit in the full-year, as it outperformed its benchmark.
The company posted pretax profit of GBP17.0 million for the year ended April 30, compared with a GBP3.8 million loss a year earlier, as revenue crept up to 3.0 million from GBP17.7 million. The company attributed its performance to a GBP15.01 million gain on investments compared with a GBP4.0 million loss a year earlier.
It said its net asset value rose 13.3% compared with an increase of 10.5% for the FTSE ALL-Share Index.
On the back of its performance the company increased its second interim dividend to 2.00 pence from 1.85 pence, making a total for the year of 3.20 pence compared with 3.05 pence a year earlier.
Looking ahead the company entered into a new GBP30 million five-year, multi-currency revolving loan facility with The Royal Bank of Scotland Group PLC in November which "will provide flexibility over the medium term at a competitive rate."
The stock closed down 0.5% at 295.62 pence Thursday.
By Anthony Tshibangu; anthonytshibangu@alliancenews.com; @AnthonyAllNews
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