LONDON (Alliance News) - Chrysalis VCT PLC Friday said its pretax return on ordinary activities rose last year, with the trust's returns topping GBP1.0 million for the fourth consecutive year.
In a statement, the venture capitalist trust said its pretax return on ordinary activities rose to GBP1.1 million in the year ended October 31, 2013, compared with GBP1.0 million the year before that.
The trust's total return was 124.20 pence, up 4 pence, and it kept its dividend at 5.00 pence.
"There have been a significant number of disposals generating over GBP4.5 million of cash, nearly 25% of the unquoted portfolio, which has confirmed the accuracy of the valuation policy," Chrysalis's investment manager said in a statement.
Its largest disposal was the sale of KnowledgePool to Capita in May 2013, which produced proceeds of GBP1.7 million with potentially another GBP100,000 to follow, according to the statement.
"Although the banks are now stating they are keen to support SMEs, in our experience this is still not the case," the investment manager said.
Chrysalis shares were Friday quoted at 52.90 pence, up 2.90 pence, or 5.80%.
By Samuel Agini; samagini@alliancenews.com; @samuelagini
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