Hadrian’s Wall standing firm – Hadrian’s Wall Secured Investments has published results for the year ended 30 June 2018. Its ordinary share NAV rose to 98.2p from 97.7p over the period but the share price fell from 107p to 102p. Total dividends of 6.0 pence per ordinary share were declared and paid in the year ended 30 June 2018 (30 June 2017: 1.2p), and a further 1.5p was declared in July 2018 and paid in August 2018.
At 30 June 2018, Hadrian’s Wall had deployed capital totaling £117.2m, including loans that were closed and committed loans in documentation, of which £93.1m had been drawn. The loan portfolio has a remaining average life of 3.2 years and its annualised gross yield including upfront fees, before expenses and exclusive of commitment fees, on invested assets was 9.2% (a range of 7.5% to 11%).
Higher insolvencies
The adviser notes that, in the year to 30 June 2018, according to the Insolvency Service, individual insolvencies increased 13.5% compared to the previous 12-month period. The comparable increase in company insolvencies in the same period has been 9.7%. The adviser is adopting a cautious approach as Brexit gets closer. It thinks interest rates in the UK will continue to rise at a slow pace.
You can access details of the AGM here
HWSL : Hadrian’s Wall standing firm