DUNDEE (dpa-AFX) - Alliance Trust PLC (ATST.L) reported Friday that its first-half profit before tax was 317.73 million pounds, compared to last year's loss of 348.19 million pounds.
Profit per share was 108.12 pence, compared to loss of 116.19 pence a year ago.
Revenue profit per share was 11.71 pence, down from 12.46 pence last year.
Net Asset Value or NAV per share grew 9.8 percent to 1,086.5 pence from 989.5 pence last year.
Total income was 334.59 million pounds, compared to negative income of 337.36 million pounds last year.
Revenue income fell to 42.10 million euros from prior year's 46.91 million pounds.
Gregor Stewart, Chairman of Alliance Trust, said the company significantly outperformed the market and most of its peers in the first half of 2023, despite volatile market conditions.
Looking ahead, the company said the results so far this year have been pleasing, and that it is confident that the portfolio is well positioned for continued long-term growth.
Separately, Alliance Trust announced the declaration of a second interim dividend of 6.34p per share, up from 6.18p for the first interim dividend. This follows the 26% increase in dividends for 2022 compared to 2021.
The dividend will be paid on September 29 to shareholders on the register at the close of business on September 1.
Increased dividend level is expected to be at least maintained for the third and fourth interim dividends, giving an expected annual dividend increase of 5% year-on-year.
The Company expects to pay a higher dividend in 2023 and beyond.
The Board expects to declare third and fourth interim dividends for 2023 of at least the same amount as the second interim dividend. This would result in a total dividend for 2023 of at least 25.20p, an increase of 5%.
Further, the company said Stewart will step down from the Board and his role as Chairman at the year-end after completing a tenure of nine years. He will be succeeded by Dean Buckley, who joined the Board in March 2021.
In the early morning trading London, Alliance Trust shares were at 1,037.13 pence, down 0.28 percent.
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