(Alliance News) - BP Marsh & Partners PLC on Tuesday reported a higher net asset value in its latest half year.
The London-based venture capital investor, which backs financial services businesses, said diluted net asset value per share was 556.3 pence per share at July 31, up 13% from 490.8p a year prior.
Total shareholder return fell to positive 7.9% from 8.5% a year ago.
Chair Brian Marsh said: "I am pleased that we have delivered a strong set of results, both in terms of increasing the value of the portfolio and investment realisations. This gives the company the ability to reinvest in a portfolio that is growing in value, and source new investment opportunities, alongside returning value to shareholders."
Looking ahead, BP Marsh said it continues to focus on investing in niche small and medium enterprise sectors backed by management teams.
BP Marsh shares rose 4.4% to 384.00 pence each on Tuesday afternoon in London.
By Tom Budszus, Alliance News reporter
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B.p Marsh (BPM)