Bankers Investment Trust posts steady growth

18th Jan 2013 14:13

Bankers Investment Trust flew in the face of the global economic crisis last year as the British investment group on Friday posted steady growth in revenues and net asset value.The FTSE 250 company said gross revenue was up 13.4% to £18.59m for the year ended October 31st on the back of carefully calculated investments during the period.The trust achieved a net asset value total return of 9.4% over the year, with the majority of returns on investment in the first half.Dividends per ordinary share in respect of the year were up 5% to 13.33p for the year and the business forecast a minimum increase of 4% to 13.86p in 2013. The underlying investment income increased by 11.9% year-on-year."It is pleasing to be able to present to shareholders an increase in net asset value, share price and dividend," Chairman Richard Brewster said in a statement. "Our careful and diverse selection of investments continues to deliver steady growth. A further recovery in investment income has allowed us to exceed our forecast and raise the annual dividend again."However, he highlighted a repeat of problems - overhung markets, high levels of government debt and the dwindling European and US economies.Nevertheless, the UK European, Japanese and Pacific regional portfolios beat local index returns, which the Brewster said reflected the portfolio managers' vigilant selection of stocks with good dividends and strong franchises. "The results in the Pacific region were particularly welcome, delivering a 15.7% total return and justifying our overweight stance in this area of the world," Brewster added. Shares were up 0.17% to 475.80p at 14:41 Friday.RD