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CT UK High Income Trust PLC GBP

CHI.L
65
Asset Management · Financial Services
Exchange
London Stock Exchange
Winston Score
65
Winston is curious
A decent business — some strong pillars, some weaker.
Data as of Aug 23, 2026 · filings through Mar 31, 2026
How the score breaks down
Quality
Strong
Growth
Strong
Cash Flow
Mixed
Stability
Exceptional
Valuation
Good
Dividends
Strong

Winston Score History

The full picture

CT UK High Income is a closed-end investment trust listed on the London Stock Exchange and managed by Columbia Threadneedle Investments. It pools money from individual and institutional investors and uses it to buy shares in UK companies that pay regular dividends. The goal is to give investors a steady stream of income plus some growth in the value of their money over time.

The trust makes money by charging an annual management fee on the assets it holds, which explains its high gross margin. It invests almost entirely in UK-listed equities, making it heavily exposed to the health of the British economy and stock market. With a market cap of around £80–100 million, it is a relatively small fund competing against many similar UK equity income trusts. The main risk is that a slowdown in UK corporate earnings could force companies to cut their dividends, directly reducing the income the trust can pass on to its shareholders.

Growth Profile

When traditional metrics don't capture the full picture, these are the signals growth stock investors use instead.

Revenue Growth

+55.0% YoY

YoY Growth Rate

Strong revenue growth

EPS Growth

+58.6% YoY

YoY Growth Rate

Strong earnings growth

Insider Activity

0.6%ownership

Flat

Insider ownership roughly steady over the past year

Cash Position

Cash flow positive

£155M cash & investments

Company generates more cash than it spends — no dilution risk from fundraising

Strong grower

CT UK High Income Trust PLC GBP is growing revenue at 55% year-over-year. The Winston Score penalises unprofitable companies, but revenue at this pace tells a different story — this is a company still in "build mode."

The Winston Score above measures business quality today. Growth stocks often score lower because they invest in the future rather than maximising current profits. These metrics show what matters most for evaluating that future.

Score breakdown

Every number that matters to educated investors.

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Quality

Profit per sale
Gross Margin
96.7%
Premium pricing power — 96.7% gross margin
Profit after running costs
Operating Margin
94.4%
Excellent — 94.4% operating margin
Return on the money invested
ROCE
12.2%
Good — 12.2% return on capital

ROIC between 5% and 15%. They earn 5 to 15 cents back per year on every dollar invested.

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Growth

Sales growth
Sales YoY
+4.0%
Slow sales growth (+4.0% YoY)
Profit growth
EPS YoY
+45.9%
Earnings growing fast (+45.9% YoY)

Earnings growing 25%+ a year. The compounder zone.

How steady the profit is
EPS Consistency
6/8 quarters
Earnings grew in most of the last 8 quarters

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Cash Flow

Profit that turns into cash
Cash Conversion
19%
Weak — only 19% of profit becomes cash
Spare cash per sale
FCF Margin
23.4%
Converts sales into free cash efficiently (23.4%)

Free cash flow margin above 20%. Out of every $100 in sales, more than $20 is real cash they keep.

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Stability

What it owes vs what it owns
Debt / Equity
0.29
Conservative — low debt load (0.29)
Covers its interest
Interest Cover
23.85x
Comfortably covers interest (23.8x)

Interest coverage above 8. Profits cover interest many times over.

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Valuation

Price vs profit
P/E Ratio (TTM)
6.7x
no trend
Attractive valuation — P/E 6.7

P/E under 10. The price tag is small relative to last year's profit.

Cheaper or dearer next year
P/E vs Forward
N/A
not available
Data not available

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Dividends

Dividend
Dividend Yield
4.99%
no trend
Healthy income — 4.99% yield

Generous yield. Worth checking whether the payout is sustainable.

Dividend record
Dividend Growth
+3.1%
no trend
Dividend growing modestly (3.1% YoY)

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