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Merchants Trust FY Total Pretax Profit Declines - Quick Facts

Merchants Trust PLC (MRCH.L) reported profit on ordinary activities before taxation of 39.56 million pounds for the six months ended 31 July 2018 compared to 52.72 million pounds, prior year. Earnings per ordinary share was 36.39 pence compared to 48.49 pence. On revenue basis, profit on ordinary activities before taxation increased year-over-year to 16.97 million pounds from 16.37 million pounds; earnings per ordinary share was 15.61 pence compared to 15.05 pence.

As at 31 July 2018, the NAV per ordinary share (with debt at market value) was 550.1 pence. On a capital basis, the NAV per ordinary share (with debt at market value) increased by 5.0%, outperforming the benchmark return of 2.8%.

First-half income from investments was 18.57 million pounds compared to 18.34 million pounds, previous year.

The total distribution declared for the first half of 2018/19 is 12.9 pence, an increase of 4.9% on the same period last year. The Group said it is the board's intention to at least maintain quarterly dividends at the current level for the rest of the year, which would lead to a minimum annual dividend of 25.9 pence for 2018/19, an increase of 4.4% on the previous year.

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