Utilico Investments figures for the six months ended 31 December 2013 show an uplift of 4.1% in its NAV, behind the return on the FTSE All-Share (+11.4%). Utilico say the main problem was adverse movements in exchange rates – this cost them 10.9%. Revenue fell too but UTL reckon they are comfortable paying an uncovered […]
Shareholders in JP Morgan Mid Cap were rewarded with a 30.5% total return over the second half of 2013 at the fund outperformed its benchmark index (the FTSDE Mid 250), delivering a 19.0% return vs. 18.3% for the index, and its discount narrowed significantly
Hirco is cancelling its AIM admission – in other words its shares will no longer be traded on AIM. The shares have ben suspended for some time as Hirco felt unable to publish its accounts as it struggled to get useful information about the value and status of its investments. The Hirco story is a long […]
Primary Health Properties has released its results for the year ended 31 December 2013. PHP’s EPRA NAV fell for the second successive year to 300p from 305p (and 319p at the end of 2011). The fall is accounted for by the payment of an uncovered dividend – they paid 19p for the year but earnings were just under 11p. […]
Reconstruction Capital II has announced that “Due to a recent severe deterioration in the financial condition of East Point Holdings Limited” it is planning to write down the value of their holding in this company from €6.7m to zero. The value of the whole company at the end of November 2013 was €39.3m so the […]
Globalworth Real Estate has bought Tower Center International – the second tallest building in Bucharest with 24,711 sqm of space over 26 floors. The €58m cost is being settled in part through the issue of new shares – the terms of the deal were outlined in Globalworth Real estate’s prospectus released in September 2013
Figures announced for the six months ended 31 December 2013 disclose a fall in earnings per share for the period (from 11.4p to 10.4p) but an uplift in Mucklow’s EPRA NAV from 305p to 317p. Net debt rose slightly but not enough to shift the gearing ratio from its level of 41%. The vacancy rate […]
BP Marsh has released a trading update that covers the period to the end of January 2014. Deals concluded during the final quarter were the purchase of a 40% stake in a motor vehicle insurer based in Sydney, Managing General Agent, the purchase of a 30% stake in Walsingham, a specialist motor vehicle insurer based […]
City of London has released figures for the six months ended 31 December 2013. Over that period the total return on City of London’s net asset value was 23.8% – well ahead of the equivalent return on the FTSE All-Share Index of 17.9% but 2.2% behind the average UK Growth & Income Investment Trust. CTY’s […]
Over the second half of 2013 Altus Resource Capital’s net asset value rose by 1.3%. This improvement in the asset value was achieved despite a fall in the gold price of 2.3% over the period and falls in the FTSE Gold Mines Index and S&P TSX Gold Index of 8.6% and 2.9% respectively.
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