GHG.L Share News (GHG)

(Alliance News) - Investment firm Georgia Capital PLC posted a rise in net asset value in what it described as a "significant year".

At December 31, Georgia Capital's net asset value per share stood at GEL46.84, about GBP13.04, a 5.7% rise from GEL44.32 a year prior.

The company's shares were 0.3% lower at 740.00 pence each in London on Thursday afternoon.

Net asset value was up 3.9% to GEL1.75 billion from GEL1.69 billion.

The Georgia-focused firm's total portfolio value was 20% higher at GEL2.25 billion from GEL1.88 billion.

The company said its private businesses contributed 10% to NAV per share growth, though there was a 4.4% negative impact from its listed investments.

Georgia Capital has two listed holdings, London-listed Georgia Healthcare Group PLC and Bank of Georgia Group PLC.

"2019 was a significant year of capital allocations and progress for Georgia Capital. We successfully converted active pipeline deals into 11 acquisitions. Our NAV per share increased 5.7% in 2019 on the back of strong value creation across our private portfolio companies and disciplined share buybacks," the company said.

The company repurchased GEL124.8 million in shares, up 43% from GEL87.4 million in 2018.

"The Georgian economy is expected to continue its strong growth in 2020 and beyond, supporting our business model and growth for the years to come," Georgia Capital added.

By Eric Cunha; ericcunha@alliancenews.com

Copyright 2020 Alliance News Limited. All Rights Reserved.