JPMorgan European Smaller Companies Trust plc announced earnings results for the year ended March 31, 2017. For the year, the company’s gains on investments held at fair value through profit or loss was GBP 127,358,000 against GBP 69,936,000 a year ago. Gross return was GBP 138,176,000 against GBP 77,193,000 a year ago. Net return on ordinary activities before finance costs and taxation was GBP 131,990,000 against GBP 71,917,000 a year ago. Net return on ordinary activities before taxation was GBP 131,264,000 against GBP 71,117,000 a year ago. Net return on ordinary activities after taxation was GBP 131,036,000 against GBP 70,778,000 a year ago. Return per share 81.85 pence 44.20 pence a year ago. Net asset value per share as on March 31, 2017 was 388.1 pence compared with 309.3 pence as on March 31, 2016. Net cash inflow from operating activities was GBP 5,291,000 against GBP 3,408,000 a year ago.