29 Apr 2016 07:48
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Don't have an account? Click here to register.Electra Private Equity posts strong first-half returns
Wed, 04th May 2016 12:30
(ShareCast News) - Electra Private Equity looked to be sitting on solid foundations on Wednesday, as it claimed strong returns in its first half.The FTSE 250 company reported a net asset value per share of 4,405p - a total return of 15% in a period where the FTSE All-Share has returned 4%.Total net asset value per share return for the 12 months to 31 March was 28%, and investment return was £299m - or 18% on the opening portfolio for the six months."Electra has produced another set of strong results, with a NAV per share total return of 15% over the six-month period driven by excellent progress in the investment portfolio and supported by a high level of realisations," said chairwoman Dame Kate Barker."We are pleased to be announcing an interim dividend of 44p per share, an increase of 16% on the corresponding period last year, and in line with Electra's policy of returning to shareholders a targeted 3% of NAV per annum."Electra's managing partner Alex Fortescue said the company successfully deployed £158m of capital in growth assets during the period, as well as in lower-risk, cash yielding assets to support its distribution policy."Three of Electra's assets, namely Parkdean Resorts, The Original Bowling Company and Elian, have completed transformational M&A transactions which have enhanced their strategic value and growth prospects," Fortescue explained."Electra's portfolio offers considerable potential as the growth strategies we have in place at each portfolio company continue to take effect."
More News
4 Apr 2016 13:44
Director dealings: Bramson keeps picking up Electra stock
(ShareCast News) - Activist investor Edward Bramson, who won a place on the board of Electra Private Equity in November after a 21 month-long battle with the board, has continued to snaffle more shares in the group. On Monday the company revealed that last week Bramson's Sherborne vehicle had bought
Read more15 Mar 2016 11:37
BUZZ-UK Budget: Liberum latest to warn of interest tax change
** Liberum latest broker to warn a possible change in the way UK allows cos to claim tax breaks could hit highly-levered stocks ** Government looking to cap tax breaks from interest payments on debt at 10-30 pct of EBITDA. Link: http://bit.ly/1MgJSoO ** Liberum screens for stocks with
Read more19 Feb 2016 16:09
4 Feb 2016 15:44
Activist investor Bramson ups stake in Electra Private Equity
(ShareCast News) - Edward Bramson has increased his stake in Electra Private Equity through his Sherborne Investors vehicle, three months after finally getting onto the board. Bramson, who was elected to the board in November, purchased 2,850 shares for £98,439. He has been slowly upping the stake
Read more4 Feb 2016 08:58
Electra sells Daler-Rowney to FILA Group
(ShareCast News) - Electra Private Equity has sold its stake in Daler-Rowney to the FILA Group, a Milan-listed producer of writing instruments and art supplies. The FTSE 250 company said it had received around £32m for the fine art materials producer, which was 163% higher than its valuation at 30 S
Read more28 Jan 2016 09:38
Electra Private Equity charges into new financial year
(ShareCast News) - Electra Private Equity charged into the financial year in bullish mood, with its board describing its first quarter as "excellent" on Thursday. The FTSE 250 firm said its share price of 3757p on 31 December 2015 reflected a total return of 15% since the start of the period, agains
Read more25 Jan 2016 07:43
Electra Private Equity to review investment strategy
(ShareCast News) - Electra Private Equity is undertaking a review into its investment strategy and policy as well as the company's structure, as it looks to maximise long-term shareholder value. The FTSE 250 investment firm announced the review on Monday, the first major review since it was approved
Read more21 Jan 2016 16:16
London close: Stocks gain on ECB stimulus hopes
(ShareCast News) - UK stocks advanced on Thursday as European Central Bank President Mario Draghi hinted at further stimulus. In a press conference following the ECB's decision to keep its key rates unchanged, Draghi said the central bank would "review and reconsider" its monetary policy measures at
Read more21 Jan 2016 16:10
21 Jan 2016 15:41
FTSE 250 movers: Halfords leads the peloton
(ShareCast News) - The FTSE 250 was in the black mid-afternoon Thursday, up 164.74 points (1.05%) to 15,805.75. Halfords pedalled to the front of the peloton after it said group like-for-like sales rose 0.3% in the third quarter with the company reporting that full year pre-tax profit expectations w
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