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JLEN Environmental Assets reported a fall in first-half profit as income was held back by a loss on investments as a decline in electricity and gas prices forecasts weighed.
For the half year to 30 September 2020, pre-tax profit fell to £10.7 million from £16.2 million year-on-year as operating income fell to £13.9 million from £19.3 million.
Net asset value per share was 96.1 pence, down from 97.5 pence, primarily driven by 'the effect of the reduction in long-term electricity and gas price forecasts,' the company said.
The portfolio valuation as at 30 September 2020 was £552.9m, up from £537.1m last year.
The company declared an interim dividend of 1.69 pence a share and reaffirmed its targeted dividends of 6.76 pence for the year to 31 March 2021.
'The company has not experienced any Covid-related adverse impact to its pipeline, which remains robust ...,' JLEN said.
At 8:21am: (LON:JLEN) Jlen Environmental Assets Group Limited share price was 0p at 119p