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BP Marsh & Partners PLC - investor in early stage financial services businesses - Net asset value on July 31, the end of its financial first half, is 430.4 pence per share, up 3.4% from 416.4p on January 31 and 8.6% from 396.2p on July 31, 2020. Total shareholder return is 4.0% in the half year, including the 2.44p dividend paid in July. Notes the "modest" dividend was paid despite making no investment realisations during the year for which it was paid. Consolidated pretax profit is GBP6.2 million in the half year, down 4.0% from GBP6.5 million a year before.
"This is a good set of results for the company, and the continuation of a long trend of strong portfolio growth," says Chair Brian Marsh. "Looking forward, we continue to seek investment opportunities into new businesses, to diversify our portfolio further, and increase investor returns."
Separately, says portfolio firm CBC UK Ltd secures GBP3.0 million in financing facilities from Coutts & Co, part of NatWest Group PLC, following an introduction by BP Marsh. Of that, GBP2.0 million will be used by CBC to repay debt owned to BP Marsh, reducing its outstanding debt to BP Marsh to GBP3.1 million. The remainder will be used by CBC to support growth.
Current stock price: 322.60p, up 3.1% on Tuesday
Year-to-date change: up 23%
By Tom Waite; thomaslwaite@alliancenews.com
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