GBL: restated NAV up over 25% in 2019
(CercleFinance.com) - On Thursday GBL reported 2019 restated NAV that is up over 25% at 20.
3 billion euros, and says that it expects to pay a dividend of 3.15 euros per share for the year , up 2.6% y-o-y.
The Belgian financial holding company mentions an upbeat market environment which enabled it to outperform its benchmark index, the STOXX Europe 50, which rose by 23% last year.
Meanwhile, all of its disposals - carried out at what it said are satisfactory valuation levels - generated an overall capital gain of 850 million euros, the group continues.
In the end, its consolidated net profit at end-2019 increased by almost 7% to 705 million euros.
Faced with the major uncertainties at present, first and foremost relating to the coronavirus epidemic, GBL says that it wants to maintain a "balanced" and "resilient" portfolio.
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