4th Dec 2018 15:39
LONDON (Alliance News) - Albion Enterprise VCT PLC on Tuesday said its net asset value increased in its most recent half year, due in particular to its independent school and a financial crime detection firm investments.
In the six months ended September 30, the venture capital trust posted a 112.12 pence per share net asset value, up from 101.62p per share the year before.
Albion Enterprise's investment in Quantexa, a financial crime detection company which uses data analytics and artificial intelligence, had a GBP2.1 million uplift in the period due to a funding round led by a third party.
Valuation of Albion Enterprise's Radnor House School (Holdings) Ltd investment also rose after two of Radnor House's schools performed well.
Albion Enterprise has a dividend target of 6p per share for its current financial year ended March 2019, up from 5p the year before.
Having paid its a 3p per share dividend at the end of August, it has now declared a second dividend of 3p per share to be paid in February.
"We are encouraged by these interim results. We as a board see the portfolio as being well balanced across a variety of growth sectors and with a number of businesses having the capability of significant further increase in value. We look forward to the full year results with confidence," said Albion Enterprise Chairman Maxwell Packe.
Shares in Albion Enterprise were untraded on Tuesday afternoon.
Related Shares:
Albion En. Vct