Dunedin Income Growth Investment Trust PLCs half-year report for the period ending July 31, 2024, shows strong financial performance. The companys net asset value (NAV) total return was 8.2%, with a share price total return of 10.5%, reflecting a narrowing discount relative to NAV. The companys investment objective is to achieve income and capital growth from a portfolio of primarily UK-listed companies that meet sustainable and responsible investing criteria. The benchmark FTSE All-Share Index returned 12.3% during this period. Earnings per share increased by 8.1%, and the company paid dividends of 3.2p per share for the first and second quarters. The board expects to comply with the UKs new sustainability disclosure requirements and has consulted with the investment manager on their application. The companys gearing level increased to 9.5% due to additional borrowings and share buybacks. The board plans to recruit additional directors for succession planning and to maintain a consistent rating for the companys shares. The investment managers review highlights portfolio activity, income generation, and outlook. The condensed financial statements provide details on income, taxation, dividends, and returns per share.
| Financial Year | Total Assets (£) | Equity Shareholders' Funds (£) | Market Capitalization (£) | Net Asset Value per Ordinary Share (p) | Net Asset Value per Ordinary Share with Debt at Fair Value (p) | Share Price per Ordinary Share (Mid) (p) | Revenue Return per Ordinary Share (p) | Net Gearing (%) |
|---|---|---|---|---|---|---|---|---|
| 31 July 2024 | 509,218 | 460,429 | 424,040 | 322.49 | 326.53 | 297.00 | 8.92 | 9.5 |
| 31 January 2024 | 488,867 | 445,815 | 403,437 | 304.99 | 308.98 | 276.00 | 8.25 | 6.8 |
| % Change | +4.2 | +3.3 | +5.1 | +5.7 | +5.7 | +7.6 | +8.1 | +3.7 |