JLEN Environmental NAV per share falls as energy price forecasts cut

(Alliance News) - JLEN Environmental Assets Group Ltd on Thursday reported a fall in its net ...

Alliance News 10 June, 2021 | 10:21AM
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(Alliance News) - JLEN Environmental Assets Group Ltd on Thursday reported a fall in its net asset value per share in the 2021 financial year, after cutting energy price forecasts as the pandemic lowered demand.

Net asset value per share fell 5.4% in the year ended March 31, to 92.2 pence from 97.5p. The renewable energy infrastructure investment trust swung to a pretax profit of GBP8.1 million from a loss of GBP10.7 million in the previous year.

The FTSE 250-listed firm will target a dividend of 6.8p per share in financial 2022, an increase of 0.6% after paying out 6.76p per share in financial 2021. That's a slowdown from the previous year's 1.5% uplift.

Shares were up 0.1% at 103.14 pence in London. They're down 9.5% year-to-date.

The company said the outlook is favourable for those involved in environmental infrastructure, as governments invest in a green recovery.

"JLEN's portfolio has been resilient throughout the Covid-19 period and is well placed for the recovery," Chair Richard Morse said.

By Ivan Edwards; ivanedwards@alliancenews.com

Copyright 2021 Alliance News Limited. All Rights Reserved.

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Securities Mentioned in Article

Security Name Price Change (%) Morningstar
Rating
JLEN Environmental Assets Group Ord 106.60 GBX 0.95 -

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