Printer Friendly

THE FRANCE GROWTH FUND, INC. REPORTS EARNINGS

 THE FRANCE GROWTH FUND, INC. REPORTS EARNINGS
 NEW YORK, Oct. 30 /PRNewswire/ -- The France Growth Fund, Inc.


(NYSE: FRF), a closed-end, diversified management investment company seeking long-term capital appreciation through investment primarily in French equity securities, today announced its results for the quarter and the nine months ended Sept. 30, 1992.
 During the quarter ended Sept. 30, 1992, the fund's net investment income was $538,182, equal to $.05 per share. Net realized and unrealized losses were $2,481,617, equal to $0.22 per share, for the same period. This compares with net investment income of $945,590 equal to $.08 per share, and net realized and unrealized gains of $13,544,740 equal to $1.18 per share, for the quarter ended Sept. 30, 1991.
 For the nine months ended Sept. 30, 1992, the fund's net investment income was $709,852 equal to $.06 per share. Net realized and unrealized gains were $11,411,150, equal to $1.00 per share, for the same period. This compares with net investment income of $2,351,030, equal to $0.20 per share, and net realized and unrealized gains of $4,996,973, equal to $0.43 per share, for the nine months ended Sept. 30, 1991.
 As of Sept. 30, 1992, total net assets of the fund were $135,878,157, and the net asset value per share was $11.81 based on 11,509,000 shares outstanding. The fund's net asset value per share decreased for the quarter ended Sept. 30, 1992 by 1.42 percent from $11.98 for the quarter ended June 30, 1992. For the nine months ended Sept. 30, 1992, the net asset value per share increased by 9.86 percent from $10.75 on Dec. 31, 1991.
 As of Sept. 30, 1992, cash accounted for only 2.0 percent of the portfolio, with 96.5 percent invested in French equities (including warrants and rights) and 1.5 percent invested in French fixed-income securities.
 As of Sept. 30, 1992, the fund's ten largest equity investments were in:
 -- BSN
 -- Alcatel Alsthom
 -- Elf Aquitaine
 -- Generale des Eaux
 -- L'Oreal
 -- Saint-Gobain
 -- LVMH
 -- Societe Generale
 -- Air Liquide
 -- Total
 The France Growth Fund, Inc. is traded on the New York Stock Exchange under the trading symbol "FRF". The fund's investment advisor is Indosuez International Investment Services, a member of the Gartmore Indosuez Asset Management group.
 -0- 10/30/92
 /CONTACT: Frederick J. Schmidt, vice president/treasurer of the France Growth Fund, Inc., 212-408-5671/
 (FRF) CO: France Growth Fund, Inc. ST: New York IN: FIN SU: ERN


KD-AH -- NY094 -- 7333 10/30/92 17:05 EST
COPYRIGHT 1992 PR Newswire Association LLC
No portion of this article can be reproduced without the express written permission from the copyright holder.
Copyright 1992 Gale, Cengage Learning. All rights reserved.

Article Details
Printer friendly Cite/link Email Feedback
Publication:PR Newswire
Date:Oct 30, 1992
Words:435
Previous Article:DELMARVA POWER PROPOSES RATE INCREASE AS NEW POWER PLANT NEARS COMPLETION
Next Article:GRUMMAN WINS JOHNSON SPACE CENTER PROGRAM


Related Articles
THE FRANCE GROWTH FUND REPORTS EARNINGS
FRANCE GROWTH FUND DECLARES DIVIDEND
THE FRANCE GROWTH FUND, INC. REPORTS EARNINGS
THE FRANCE GROWTH FUND EARNINGS REPORT AND ANNUAL MEETING
KIDDIE PRODUCTS REPORTS SIX MONTHS SALES AND EARNINGS
THE FRANCE GROWTH FUND REPORTS EARNINGS
VIKING OFFICE PRODUCTS INC. REPORTS EARNINGS
Schweitzer-Mauduit Announces Fourth Quarter And 1997 Results And Quarterly Dividend
INVESCO Global Health Sciences Fund Monthly Update through October 31, 2000.
Manpower Reports 3rd Quarter 2006 Results.

Terms of use | Copyright © 2016 Farlex, Inc. | Feedback | For webmasters