Worsley Net Asset Value Down; Focus Turns To "Dominant" Covid-19 Theme

(Alliance News) - Worsley Investors Ltd on Thursday reported an interim net asset value fall and ...

Alliance News 26 March, 2020 | 11:42AM
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(Alliance News) - Worsley Investors Ltd on Thursday reported an interim net asset value fall and said its total return performance was beaten by its benchmark.

Net asset value per share at December 31 was 5.3% lower at 43.69 pence each, from 46.14p at the end of June.

Shares in the company were 0.3% lower at 27.65 pence each in London on Thursday morning.

Worlsey reported a net asset value total return of negative 5.3% during the six month period, compared to positive 2.4% in the year ended June.

Its share price total return was negative 1.2%, outperformed by the FTSE All Share Index which returned 5.5%. The FTSE Real Estate Investment Trust Index returned 19%.

Worsley said: "The dominant market theme for the moment is the economic impact of the world-wide coronavirus pandemic. Quite rightly, from a public policy and humanitarian perspective, governments have focused on containing or at least slowing the spread of the disease.

"The unsurprising effect has been enormous turmoil in equity markets with a wide dispersion in share price performances, most pertinently in those in Britain where we plan to invest further. It is usually the outcome that smaller companies' share prices are hit at least as badly as larger companies (and often more) and they take longer to recover as and when confidence returns to the market."

By Eric Cunha; ericcunha@alliancenews.com

Copyright 2020 Alliance News Limited. All Rights Reserved.

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