Company News in Brief

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EFM Java Trust, the long-term capital growth investment trust that invests in Indonesia and the Far East excluding Japan, was unable to propose a dividend payout for the year ended 31 December. Net asset value over the year, however, was almost doubled from 32.88p to 61.39p. It recorded profits before tax of pounds 22,000, compared with taxable losses of pounds 35,000 for the comparable period. The shares slipped 3p yesterday to close at 53p. The company will be proposing at the annual meeting to change its name to Edinburgh Java Trust, to reflect the brand name under which the trust was launched.

French Property Trust, the investment trust, which has investments in quoted shares of French property-owning companies, has recommended a final dividend of 1.4p (1.3p) for the year ended 31 December. The total was sharply down from the previous year's payout of 2.3p at 1.4p. Net asset value per share grew by a third from 73.29p to 97.34p. Dealing gains of pounds 45,000 contributed to a higher pre-tax revenue of pounds 669,000 ( pounds 611,000). The shares eased 3p to end the day's trade at 97p.

US Smaller Companies Investment Trust passed the dividend payout for the six months to 31 December. Net asset value per share improved to 148.8p (131.5p). Pre-tax revenue rose to pounds 284,000 ( pounds 41,000).