Mercia Asset Management reports solid start to year

(Sharecast News) - Mercia Asset Management reported a strong start to the financial year in an update on Thursday, with a consistent performance across its asset classes.

The AIM-traded firm, holding its annual general meeting, said that had led to solid recurring revenue streams.

Non-executive chair Ian Metcalfe emphasised the group's capability to support its portfolio companies in its existing funds, thanks to its strong liquidity position and proficiency in originating new deals.

Metcalfe also alluded to the potential of adding new investments to their portfolios in the near future.

"We are carefully managing our balance sheet cash position of £35m, together with its increasing yield, whilst maintaining support for our existing, maturing direct investments," Ian Metcalfe said.

"We remain optimistic for continuing progress across the Group during the second half of the current financial year."

At 1400 BST, shares in Mercia Asset Management were down 5.26% at 25.2p.

Reporting by Josh White for Sharecast.com.

Mercia Asset