(Alliance News) - Foresight VCT PLC on Friday reported a rise in first half net asset value per share, before it paid its interim dividend, and said it has a number of new investments in the pipeline.
Net assets at June 30 totalled GBP132.3 million, down 1.6% year-on-year from GBP134.2 million and down 3.2% from GBP136.7 million at the end of December.
Before paying its flat year-on-year 5.0 pence per share dividend, net asset value per share rose by 2.9% to 80.40p from 78.10p in December and 5.5% from the 2018 interim period.
Following the paying of dividends, net asset value per share fell 1.0% year-on-year and 3.4% from December.
The company said: "Net asset value was reduced by payment of an GBP8.8 million dividend and
performance was therefore behind target. Good progress was made in regards new investments with four completed in the six-month period, deploying GBP9.0 million."
At June 30, the company's total portfolio comprised of 42 investments at a total cost of GBP85.7 million but with a value of GBP112.8 million.
Going forward, Foresight said it has a "strong pipeline" of potential investments with a number of opportunities currently going through due diligence.
Shares in Foresight closed untraded at 65.00 pence each in London on Friday.
Foresight Technology (FTV)