Temple Bar Investment Trust announced a 7.7% fall in net assets to £7.3 million against £7.8 million in HY1 2022.
The trust, which lists its objective as providing growth in income and capital to reach a long-term return above the FTSE all-share index via investment primarily in UK-listed securities, reported a NAV per share with debt at book value drop of 7.2% to 224.3p compared to 236.1p.
Temple Bar also confirmed a NAV per share with debt at market value decline of 5.6% to 226.7p from 234p the last year.
The company highlighted a 1.6% slide in share price to 218p compared to 213p, trading at a 3.8% discount from an 8.7% discount year-on-year, as a result of intense efforts to grow interest in the group, including methods such as refreshing its website and employing targeted marketing tactics.
However, Temple Bar Investment Trust reported a climb in revenue return per ordinary share to 4p against 2.7p.
The group confirmed a positive outlook despite the volatile market environment going forward.
“Rarely has it been so difficult to predict the future. Inflation in the UK gets ever higher and recession may be just around the corner,” said Temple Bar Investment Trust chairman Arthur Copple.
“The terrible events in Ukraine and the pressure that, inter alia, has put on energy and commodity prices all add to the uncertainty. The domestic political situation is unclear.”
“Nevertheless, as outlined in their report the Investment Manager believes the portfolio remains attractively priced and can still perform well.”
The trust also noted a dividend per ordinary share hike to 4.1p from 3.9p the year before.