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Bluefield Solar Income Fund Ltd on Wednesday said it was encouraged by continued progress, with generation and sale of solar and wind power performing well, despite posting a fall in net asset value. The Guernsey-based income fund, which focuses on UK-based renewable energy assets said net asset value declined 2.7% to 135.95 pence each as at December 31, from 139.70p at June 30. Pretax profit plunged to £4.0 million in the six months to December 31, from £37.6 million a year prior. Notably, net gains on financial assets held at fair value fell to £4.6 million from £38.4 million. Operating income dropped to £5.1 million from £38.8 million. The company said its dividend target per share was 8.80p for the current financial year ending June 30, up 2.3% from 8.60p a year prior. Chair John Scott said: ‘The board is encouraged by the continued progress made by your company in the past six months. From an operational perspective, most aspects of our core business - namely the generation and sale of solar and wind power - performed well.’ Bluefield Solar shares rose 1.5% to 103.89 pence each on Wednesday morning in London. Copyright 2024 Alliance News Ltd. All Rights Reserved.
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