ICG Enterprise Trust net asset value declines, ups dividend

(Alliance News) - ICG Enterprise Trust PLC on Thursday said its net asset value total return lagged the FTSE All-Share Index in its latest financial year, but noted its portfolio is positioned to benefit from "a number of growth trends".

The investor in private companies, primarily in Europe and the US, reported a net asset value of 2,044.6 pence per share at January 31, down 1.4% from 2,072.9p a year earlier,

NAV per share total return was 0.5% for the financial year, lower than the FTSE All-Share Index, which returned 21.1% over the same period.

ICG proposed a final dividend of 12.0p per share, up 14% from 10.5p, bringing its total dividend for the financial year to 39p, up 8.3% from 36.5p.

Shares in ICG Enterprise Trust were up 0.2% at 1,382.67p on Thursday afternoon in London.

"Our actively-managed portfolio is performing well across a number of important metrics. Ebitda growth of our portfolio companies was approximately 13% over the last twelve months, and 25% of the opening portfolio value was realised during the year." said Portfolio Manager Oliver Gardey.

"Macroeconomic uncertainty has risen post year-end; transaction activity in the near-term may slow. However, the portfolio is positioned to benefit from a number of growth trends, with broad diversification and low leverage. This provides resilience and flexibility in the face of market turbulence."

By Christopher Ward, Alliance News reporter

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ICG Enterprise Trust