Over the year to the end of March 2015, Alpha Real Trust saw its net asset value rise from 107p to 113.2p. Earnings per share rose 40% rom 5.3p to 7.5p. The quarterly dividend payment has now been set at 0.6p per share. Total dividends for the year were 2.175p.
Asset values rose within the underlying funds (Industrial Multi Property Trust, Active UK Real Estate Fund and Freehold Investment Authorised Fund). £3m of their loan to Europip has been repaid leaving £1.3m outstanding. They say the H2O shopping centre in Spain is trading well. They sold the last holdings within Business Centre Properties (acquired in 2012) and, as we have already reported, they won their arbitration case relating to Galaxia in India. The full award under arbitration amounted to £9.2m at the year end (interest is accruing on the principal) but, given the uncertainty about getting the money out of India, the Directors are valuing this at £4.9m.
ARTL : Alpha Real Trust reports NAV improvement