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(Alliance News) - Northern Venture Trust PLC on Tuesday reported an annual rise in net assets during what it labelled as a "year of two-halves".
Meanwhile, Northern 2 VCT and Northern 3 VCT reported interim net asset value climbs.
Northern Venture NAV per share at September 30 was 2.6% higher year-on-year at 70.7 pence from 68.9p.
"It was most certainly a year of two halves. Our 31 March half year-end was only one week after the first lockdown was announced and it was appropriate that we adjusted the holding values of more than half of our portfolio companies downwards amidst the deep uncertainty. Most of our businesses have learned to live with this uncertainty, some must wait for it to be lifted and a few have thrived in it, especially those benefitting from the accelerated trend towards online retailing," the venture capital trust said.
Northern Venture's total dividend was held at 4.0p.
Northern 2's NAV per share at September 30, the end of its first-half, was up 2.1% year-on-year at 64.3p from 63.0p. It held its interim payout at 2.0p per share.
Northern 3's NAV per share was 1.6% higher annually at 93.6p from 92.1p. It also declared dividends totalling 2.0p, unchanged year-on-year.
Northern Venture shares closed 1.8% higher at 56.50 pence in London on Tuesday. Northern 2 shares closed untraded at 44.00p and closed untraded at Northern 3 69.00p.
By Eric Cunha; ericcunha@alliancenews.com
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