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Annual Results

LFI profits fall, FY divi increased

28 September 2017 14:20

London Finance & Investment Group (LFI) has reported a pre-tax profit for the year ended 30 June of £1.23m, compared to £1.6m last year.

Net assets increased over the year by 7%, from 61.4p per share to 65.6p per share, while Strategic Investments have decreased 14% in value over the year, from £12.4m to £10.7m, due to the sale of part of its investment in Finsbury Food Group.

Other highlights:

- Profit on sale of strategic investments - £1,861,700

- Strategic investments are yielding 3.1% (2016: 2.9%)

- The General Portfolio has increased, adjusting for investment purchases and sales, over the year, by 51% from £7,125,000 to £10,766,000

- Fair value movement is £2,199,000

- No significant increase in Group operating costs

The Board has recommended a final dividend of 0.55p per share, making a total of 1.1p per ordinary share for the year (2016: 1.05p).

Subject to shareholders' approval at the Company's AGM (to be held on 5th December 2017), the dividend will be paid on 15th December 2017 to those shareholders on the register at the close of business on 24th November 2017.

At 2:19pm:

Story provided by StockMarketWire.com

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