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RIT Capital Partners Slips To Loss In H1; Declares Dividend

Investment company RIT Capital Partners Plc. (RCP.L) reported Tuesday that its first-half loss before tax was 68.9 million pounds, compared to last year's profit of 245.8 million pounds.

Loss per share was 44.2 pence, compared to profit of 158.5 pence last year.

Income and gains was negative 46.8 million pounds, compared to positive 268.1 million euros last year. Investment income declined to 8.8 million pounds from 14.6 million pounds last year.

Further, the Board has declared a second interim dividend of 17.5 pence per share for October, resulting in total dividend in 2020 of 35 pence per share, an increase of almost 3 percent over 2019.

Looking ahead, the company said, "The pandemic continues to exhibit unpredictable patterns, we are in the midst of a severe economic downturn, geopolitical risks are at a newly elevated level, and entire sectors of the economy face potentially radical adjustments to how they operate as well as rapidly changing societal expectations.... it is highly likely that there will be further bouts of volatility, which may be extreme, but which will provide opportunities for the nimble and astute investor."

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