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Worldwide Healthcare Trust PLC on Wednesday said its net asset value per share rose during the first six months of its financial year, while its total return also picked up.
The London-based investor in the global healthcare sector posted a NAV per share at September 30 of 3,550.7 pence, 2.5% higher than 3,465.2p at March 31. It was 4.1% lower than 3,703.0p a year prior, however.
The half-year NAV total return was 3.1%, picking up from 0.4% a year ago. This outperformed its benchmark MSCI World Healthcare Index, which saw a total return of 2.1%.
Worldwide noted that it bought back 1.1 million shares in the half year at a cost of £36.1 million, at an average discount of 8.4%.
The company declared an unchanged interim dividend of 7.0 pence per share.
Looking ahead, Worldwide Healthcare cited the Inflation Reduction Act in the US positively, as it presumes ‘a key overhang to the healthcare sector relating to drug pricing has been reduced’.
Further, the company said that continued high levels of innovation and merger & acquisitions activity will help continue to deliver an ‘attractive performance’.
Worldwide Healthcare Trust shares were 0.1% lower at 3,321.60 pence each on Wednesday morning in London.
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