Lowland Investment Company plc (LWI.L), Friday, reported earnings for the first half ending March 31 2023, compared to a loss last year. The period witnessed significant increase in its NAV.
First-half profit before tax was 51.67 million pounds compared to a loss of 4.92 million pounds for the same period of prior year.
Net Return was 51.67 million pounds compared to a loss of 4.93 million pounds of last year. Earnings per share was 19.12 pence per share compared to a loss of 1.83 pence per share of prior year.
Revenue was 53.81 million pounds compared to a negative 3.12 million pounds for the same period last year.
Lowland's NAV increased 16.1% in absolute terms and 12.3% against the benchmark. It outperformed the benchmark due to stock selection and takeovers.
The company declared an interim dividend of 1.525 pence per share bringing the total dividend to 3.05 pence the same as last year.
According to the company, getting a reasonable growth level while keeping the inflation under control is a challenge fully recognized in UK market valuations. Therefore, Lowland's outlook is poised towards looking for growth in lower section of the market spectrum and expect its weighting to increase accordingly.
Currently, shares of Lowland are trading at 121.96 pence up 0.8% or 0.96 pence on the London Stock Exchange.
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