Montanaro European Smaller Companies Trust plc reported unaudited earnings results for the six months ended September 30, 2016. For the six months, the company reported investment income of £2,291,000 against £1,973,000 a year ago. Profit before finance costs and taxation was £22,346,000 against £1,028,000 a year ago. Profit before taxation was £22,098,000 against £856,000 a year ago. Total comprehensive income was £21,860,000 against £601,000 a year ago. Profit per share was 130.6 pence against 3.6 pence a year ago. Net asset value per share as on September 30, 2016 was 760.9 pence against 570.1 pence as of September 30, 2015. Net cash inflow from operating activities was £2,514,000 against £1,899,000 a year ago.

The board has declared an unchanged interim dividend of 1.75 pence per ordinary share, payable on January 6, 2017 to shareholders on the register on December 9, 2016.