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LONDON (Alliance News) - Baronsmead Venture Trust PLC along with Baronsmead Second Venture Trust PLC on Friday reported a decline in net asset value per share following final dividend payouts and weak AIM-quoted stock performances.
Baronsmead Venture Trust said its net asset value per share decreased by 0.4% in the six months ended March to 88.00 pence from 88.40p as at the beginning of October last year.
Meanwhile, Baronsmead Second Venture Trust PLC posted a 0.6% fall in NAV for the six months to the end of March to 89.55 pence from 90.10p as at the beginning of October.
Reduction in NAV for both companies reflect the payment of a final dividend at the start of March.
During the period, the trusts said uncertainty affected prices on London's AIM market, while it also saw a reduction in value of its holding in unquoted In The Style Fashion. Fortunately, this was offset by steady progress being made by most of its more-mature unquoted investments.
Baronsmead Venture said its unquoted investments delivered a 2.0% increase in valuations.
The total portfolio, which comprises of 70 unquoted and AIM-traded companies, was valued at GBP136.0 million as at March 31.
Baronsmead Second Venture said the value of its unquoted investments rose 1.9% year-on-year.
Its total portfolio value stood at GBP160.0 million and included 68 unquoted and AIM-traded companies.
"While there are continued negotiations surrounding Brexit and ongoing political uncertainty, the UK economy has remained relatively resilient, although we have witnessed some declines in markets since the beginning of the year," said Baronsmead Venture Chairman Peter Lawrence. "Despite this, the company's portfolio is diverse and continues to make steady progress.
Baronsmead Venture shares were untraded at 85.00 pence per share on Friday, while shares in Baronsmead Second Venture were untraded at 86.51p.