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(Alliance News) - British Smaller Companies VCT2 PLC on Friday said its net assets rose in 2019.
Net assets at December 31 were 13% higher year-on-year at GBP72.3 million from GBP64.1 million.
Net asset value per share fell 7.8% to 55.2 pence from 59.9p. British Smaller 2 had 131.1 million shares in issue at the end of 2019, compared to 107.0 million in the year prior.
Shares in the company were 1.8% higher at 52.44p each in London on Friday afternoon.
The venture capital trust raised its dividend by more than double to 8.0p per share from 3.0p.
The company added: "Although the general election result has removed some domestic political uncertainty there is still some way to go before the UK's ongoing trading relationships with the world are agreed. The companies in the portfolio continue to prepare to either mitigate any impact of, or exploit any opportunities that may arise from, the UK's new position in the world.
"Over recent weeks the spread of the Covid-19 virus to the UK has increased the overall impact on UK-based businesses; whilst initially principally impacting supply chains and certain overseas customers the spread of the virus, and the response to it, is beginning to impact behaviours and movement of people. Some sectors have a greater exposure to these impacts, particularly travel, hospitality and leisure."
By Eric Cunha; ericcunha@alliancenews.com
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