Merchants Trust H1 Pre-Tax Profit Declines, Income Rises

(RTTNews) - Merchants Trust Plc (MRCH.L), a fund investor firm managed by Allianz Global Investors GmbH, on Monday reported a decline in first-half pre-tax profit, despite improved income.

Profit before tax for the period declined to 48.60 million pounds from 116.13 million pounds a year ago.

Profit attributable to shareholders shrank to 45.36 million pounds from 115.55 million pounds a year ago. Earnings per share declined to 30.56 pence from 77.90 pence in the prior year.

Revenue earnings attributable to shareholders improved 3.5% to 26.32 million pounds from 25.41 million pounds last year.

On a per-share basis, revenue earnings climbed 3.5% to 17.73 pence from 17.13 pence in the last year.

Revenue income increased 2.5% to 28.8 million pounds from 28.1 million pounds in the prior year.

Income from investments was 28.11 million pounds, up from 27.52 million pounds a year ago.

On a per share basis, the company's net asset value total return grew to 599.2 pence from 582.4 pence as of January 31.

Further, the Board has declared a second interim dividend of 7.3 pence per share, payable on November 20 to shareholders on the register on October 10.

Total dividend for the first half of the current financial year increases 0.7% to 14.6p from 14.5p last year.

On the London Stock Exchange, the shares were trading 0.64% higher at 553.50 pence.