Money

Infrastructure and utility market reveals half-year results with £18m revenue total

Utilico Emerging Markets (UEM) has announced its half-year results to September 30 2019.

Highlights include the company’s total revenue income of £18.1m. In 2018, this stood at £16.9m.

UEM’s share price total return-per-share came in at 10.4 per cent. In addition, the company’s NAV compound total return was 11.3 per cent.

John Rennocks, chairman of UEM, said: “I am pleased to report that, in volatile markets, UEM has continued to deliver a positive performance, achieving a NAV total return for the six months of nine per cent, ahead of the MSCI EM Total Return Index, GBP adjusted, which was up 1.8 per cent.

“This continues to benefit from our strong conviction in Brazil. The profile of UEM’s existing investments remains largely the same.

“These businesses are predominantly profitable, cash generative and dividend paying, and offer attractive long-term total returns.

“It is pleasing to see the EPS increase by 5.8 per cent on an investment basis.

“Since inception over 14 years ago, UEM’s track record of performance has been reassuring and the board has every confidence that the investment managers will continue to identify investments offering attractive, long term returns.”

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