Crystal Amber has published results for the year ended 30 June 2015. Over the year its NAV rose by 4.6% to 168.26 pence. The dividend increased tenfold from 0.5p to 5p. The total return per share for the year was 5% which compares unfavourably to the FTSE 250 total return of 14.5% and FTSE Small Cap total return of 8.1%.
Within the portfolio they made exits from investments in Aer Lingus Group and Thorntons and these added realised gains of £8.7m and £7.5m respectively, contributing to total net realised gains of £24.4m for the year, including realised losses on derivatives of about £100k. The holding in 4imprint also contributed to the NAV growth. The main performance detractors were Hurricane Energy plc (-2.9%), TT Electronics plc (-1.8%) and NBNK Investments plc (-1.9%).
CRS : Crystal Amber underperforms, not helped by derivative losses