LONDON (Alliance News) - British Smaller Companies VCT2 on Friday said its total return increased by 2.1 pence per share in the first six months of 2015.
The company said its total return per share was 108.5p at the end of June.
It said that equates to a 3.3% increase on opening net assets at the end of 2014.
"The stable performance of the UK economy of 2014 has continued into the current year notwithstanding that since my last Statement at the end of March we have seen a General Election and a second budget," Chairman Richard Last said in a statement.
"The company's portfolio has continued to perform well against this backdrop. The overall value of your company's investments has increased by 5.9% since the start of the year despite there being trading challenges for those exporting to Europe where businesses have had to increase trading volumes to counteract the effects of a strong pound. The company's larger and more diversified portfolio has also continued to deliver an increasing level of income," Last said.
"Good progress continues to be made across the portfolio to position businesses to grow and realise shareholder value. The growth in income generation from the portfolio has added further resilience to future investment returns," Last added.
Shares in the company were up 3.5% at 58.97 pence Friday afternoon.
By Samuel Agini; samagini@alliancenews.com; @samuelagini
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Br.small Co.2 (BSC)