Aurora UK Alpha PLC (ARR)

(Alliance News) - Aurora UK Alpha PLC on Tuesday reported a negative total return for 2024, underperforming its benchmark as a weak second half offset early gains.

The London-based investment trust and alternative investment fund posted a net asset value per share total return of negative 4.3% for the year ended December 31, compared with a positive 36.3% in 2023.

This lagged the FTSE All-Share Index benchmark, which returned 9.5%. The trust's share price total return was negative 5.5%, versus a 28.5% gain the year prior.

NAV per share fell to 256.17 pence at year-end from 274.34p a year before.

The trust attributed the underperformance to stock-specific setbacks in the second half of the year, including a 33% drop in Frasers Group PLC shares and weakness in housebuilders such as Barratt Redrow PLC. These losses outweighed gains from holdings like Castelnau Group Ltd, Lloyds Banking Group PLC, and Netflix Inc.

Aurora swung to a pretax loss of GBP10.7 million in 2024 from a GBP53.4 million profit in 2023, after reporting a GBP13.6 million loss on investments, versus a GBP53.5 million gain a year before.

Aurora did not declare a final dividend, compared to a 3.45p final payout in 2023. The board had previously declared an interim dividend of 3.0p per share, which was paid on December 6.

Aurora completed its merger with Artemis Alpha Trust PLC in November, adding GBP101 million in assets and lifting total net assets to GBP293.5 million at year-end from GBP208.7 million a year earlier. The trust said the enlarged scale should improve liquidity and reduce charges.

Shares in Aurora were up 3.8% at 220.58 pence in London on Tuesday afternoon.

By Eva Castanedo, Alliance News reporter

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