Mid Wynd International FY Net Asset Value 1,008.7P Vs 777.0P

2nd Aug 2010 08:41

LONDON (Dow Jones)-- Mid Wynd International Investment Trust PLC (MWY.LN), announced today it had a net asset value per share of 1,008.7 pence for the year to June 30, compared with 777.0 pence. MAIN FACTS: -In the year, net asset value per share rose by 29.8% compared to a 19.9% rise in the comparative index, the FTSE World Index (in sterling terms). -The Company's share price rose by 39.0%. -Pretax Net Return: GBP12,527,000 (2009: Loss GBP9,797,000) -Net Return per share: 246.08 pence (2009: Loss 199.98 pence) -The strong relative and absolute performance was due predominantly to stock selection in Europe and the U.K., supported by the company's bond holdings and an increased exposure to Emerging Markets. -Over the year the Bond portfolio has been reduced to 5% of total assets with proceeds reinvested in U.K. and Emerging Market stocks that should benefit from continuing epochal shifts in economic power or where mispricing presents a specific opportunity. -An increased final dividend of 9.0 pence per share is being proposed giving 15.5 pence per share for the year, an increase of 3.3% on last year. -Despite the loss of revenue as a consequence of a reduced allocation to bonds, earnings per share rose 3.6% this year, owing primarily to a few individual stocks. -Shares at 0739 GMT stood at 958.50 pence. -By Zechariah Hemans, Dow Jones Newswires; 44-20-7842-9411; [email protected] Order free Annual Report for Mid Wynd International IT PLC Visit http://djnweurope.ar.wilink.com/?ticker=GB0005893838 or call +44 (0)208 391 6028 (END) Dow Jones Newswires August 02, 2010 03:41 ET (07:41 GMT)