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Merchants Trust PLC - London-based investment trust - Posts net asset value rise but says future is ‘extremely hard’ to predict. Net asset value per share at July 31 grows 6.8% to 565.2 pence from 529.3p a year prior. NAV total return of 1.3% outperforms benchmark, FTSE All-Share index, which returns negative 0.1%.
Declares 13.7p dividend for the first half of financial year 2023 ending January 31, up slightly from 13.6p.
Near future is ‘extremely hard to predict,’ Chair Colin Clark says. ‘From an economic perspective there are many factors at play and the possible outcomes range anywhere from a moderation of inflation and return to more 'normal' scenario, to a full-blown recession and spiralling inflation. The UK market seems at the moment to be concerned with something akin to the latter scenario,’ he adds.
Current stock price: 500.65 pence, up 3.0% on Friday
12-month change: down 7.6%
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