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Prices & Quotes - UK Markets - Mercantile Investment Trust (The) (MRC)

Risk Warning The value of investments can fall as well as rise and any income from them is not guaranteed and you may get back less than you invested. Past performance is not a guide to future performance.

Share Price:
Up 275.50p
Change Today:
2.00p
Market Cap:
2,180.65m
Sector:
Equity Investment Instruments

Mercantile suffers in turbulent markets

Date: Wednesday 21 Sep 2011

LONDON (ShareCast) - Mercantile Investment Trust saw huge losses for the six month period to the end of July, blaming specific stock and market wide turbulence.

The group made a pre-tax loss of 15.6m, compared to a profit for the same period last year of 89m after the company took a 25.65m bath on the value of its investments.

Net asset value on a total return basis dropped 0.3% during the period while its benchmarks - the FTSE All-Share, excluding FTSE 100 constituents and investment trusts - grew by 2.2%.

Chairman Hamish Leslie Melville said: "Whilst this is a disappointing result, it has to be viewed against the backdrop of economic and political uncertainty, which has resulted in the portfolio underperforming against the managers' expectations.

"With global growth slowing, markets volatile and the European Sovereign debt problem still unresolved, we remain cautious and as at the date of this report the Company is not fully invested, taking into account amounts receivable as proceeds from cash bids for companies in the portfolio.

"However, the valuations of many stocks look attractive on a medium term view; generally companies' balance sheets are now strong and dividend yields attractive. The company is well placed to take advantage of opportunities as they present themselves."

A second quarterly dividend of 6.0p (2010: 6.0p) has been declared payable in respect of the six months ended 31st July 2011.

The share price fell 0.71% to 905.50p by 16:40.

NR

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MRC Market Data

Currency UK Pounds
Price 275.50p
Change Today 2.00p
52 Week High 280.50p
52 Week Low 169.00p
Volume 897,664
Shares Issued 791.52m
Market Cap 2,180.65m

Performance Indicators

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MRC Dividends

  Latest Previous
  Q1 Q4
Ex-Div 24-Jun-21 25-Mar-21
Paid 02-Aug-21 30-Apr-21
Amount 1.35p 2.65p

Trades for 11-Jun-2021

Time Volume / Share Price
16:35 13,879 @ 275.50p
16:22 72 @ 275.50p
16:22 144 @ 275.50p
16:22 906 @ 275.50p
16:21 780 @ 275.68p

MRC Key Personnel

Chair Angus Gordon Lennox