London Finance & Funding interim revenue down, outlook unsure – Morningstar

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(Alliance News) – London Finance & & Investment Group PLC on Friday reported its interim revenue declined by a third, reflecting its exposure to the stock market.

The UK-based financial investment financing and management company said its pretax profit come by 33% to GBP561,000 for the first half to December 31 from GBP848,000 in the prior year.

Net properties per share per share rose by 14% to 63.2 pence as at December 31, compared to 55.5 cent the exact same date a year prior.

London Finance & & Investment Group stated an interim dividend of 0.55 pence, or 1.256 rand cents, the same as the 2020 payout.

Over the period, the business sold 1.5 million shares in Finsbury Food and made some changes to the basic portfolio investments, realising cash of GBP2.8 million and net revenues of GBP1.5 million compared to the cost of these financial investments.

The worth of the general portfolio increased by 6.3% compared to boosts of 4.6% and 6.0% in the FTSE 100 index and the FTSEurofirst 300 index respectively, over the half year.

As at December 31, London Finance & & Investment Group held two tactical investments: Western Selection PLC and Finsbury Food Group PLC.

. The business expects to see a rotation out of development and tech stocks and into value stocks, which need to benefit its portfolio positioning.

“We remain exposed to basic market motions and the overall instructions of the market in the short term stays uncertain,” it said.

Shares in the company were untraded on Friday, last traded at 38.75 cent in London, while its Johannesburg shares were likewise untraded at ZAR7.00.

By Artwell Dlamini; [email protected]!.?.! Copyright 2022 Alliance News Limited. All

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