Trading Emissions sees NAV reduce

31st Oct 2011 16:00

Trading Emissions, an investment company saw its net asset value decrease by around 29.72% per share as a result of a reduction in carbon prices since the end of June. During the twelve months ended 30 June, the firm made a loss per share of 9.49p, slightly lower that the previous year (2010: 11.19p). The firm, which has £95.2m in cash at the end of the period (2010: £111.4m), will not pay a final dividend. In a statement, the firm said: "The company re-iterates its objective to return capital to shareholders through a controlled realisation programme. The company is aggressively pursuing this strategy through the sale of individual assets targeted to strategic buyers." The share price has lost 41.71% over the past year, but was unmoved by the results. NR