Archived article
Please note that tax, investment, pension and ISA rules can change and the information and any views contained in this article may now be inaccurate.
Bellevue Healthcare Trust PLC on Monday reported a decline in net asset value, as it cited a reversal of supply chain globalisation and offshoring.
Bellevue Healthcare is a London-based healthcare sector investment company managed by London-based Bellevue Asset Management Ltd.
The company said net asset value per share as at November 30 declined 7.4% to 171.16 pence from 184.91p a year prior. NAV total return was negative 4.1%, underperforming against the MSCI World Healthcare Index, which returned positive 14%.
‘The multi-decade trend of supply chain globalisation and offshoring looks to have gone into reverse; the fashionable mantra of ’just in time‘ lean inventory is now ’just in case‘ working capital investment,’ the company said.
Bellevue Healthcare proposed a 3.235p per share final dividend for financial 2022, up 7.3% from 3.015p a year ago. This brings the total to 6.47p, up 7.3% from 6.03p.
For financial year 2023, the firm targets a final dividend of 2.995p, down 7.4% from a year ago, and a total dividend of 5.99p, down 7.4%. The company said this reflected the lower year-end NAV of financial 2022.
Looking ahead, Bellevue reiterated that performance in the first quarter that ended at the end of February was positive, on a relative and absolute basis.
Bellevue shares were 0.6% higher at 167.19 pence each in London on Monday morning.
Copyright 2023 Alliance News Ltd. All Rights Reserved.