IN BRIEF: Finsbury Growth & Income Trust Beats Benchmark For Year
Thu, 17th Dec 2020 07:02
Finsbury Growth & Income Trust PLC - invests in UK-listed companies - Reports net asset value per share of 846.2 pence as at September 30, down from 935.6p the year prior. Its NAV per share total return as at September 30 was negative 7.7%, outperforming its benchmark, the FTSE All-Share Index, at negative 16.6%, despite Covid-19 and Brexit challenges. Maintains a full-year dividend of 16.6p per share, unchanged from the year before.
Looking ahead, the company says it will continue to invest in high quality companies that own both durable and cash generative brands to deliver strong investment returns to shareholders over the longer term.
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PAHANG-based hypermarket operator TF Value-Mart (TF) is thriving despite the Covid-19 pandemic as it follows a simple formula: focus on second-tier cities and remain asset-light.
After reporting a near 9% year-on-year growth in revenue to RM1.48 billion last year, the profitable retailer expects to end 2020 with an even bigger jump in revenue of 15% to RM1.7 billion.
Remarkably, all of its stores have remained profitable this year and have been performing above expectations since the beginning of March.
Not surprising then that when Singapore-based private equity firm KV Asia Capital Pte Ltd said it was seeking a buyer for TF as it wanted to monetise its investment, the hypermarket operator’s top management jumped at the opportunity to take over the business.
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