JPMorgan European Smaller Companies Trust plc announced earnings results for the year ended March 31, 2018. For the year, the company’s gains on investments held at fair value through profit or loss was GBP 82,036,000 against GBP 127,358,000 a year ago. Gross return was GBP 97,386,000 against GBP 138,293,000 a year ago. Net return on ordinary activities before finance costs and taxation was GBP 90,210,000 against GBP 131,990,000 a year ago. Net return on ordinary activities before taxation was GBP 89,701,000 against GBP 131,264,000 a year ago. Net return on ordinary activities after taxation was GBP 88,848,000 against GBP 131,036,000 a year ago. Return per share 55.53 pence 81.85 pence a year ago. Net asset value per share as on March 31, 2018 was 438.9 pence compared with 388.1 pence as on March 31, 2017. Net cash inflow from operating activities was GBP 8,393,000 against GBP 5,291,000 a year ago.