5th Dec 2019 06:50
(Alliance News) - Albion Enterprise VCT PLC on Wednesday said its net asset value increased by 6.5% year-on-year amid a strong performance from its investees.
The investment company reported NAV per share as at September 30 of 119.42 pence, up from 112.12p a year prior and 117.76p as at March 31. The growth was helped by uplifts in value of Oviva AG and Koru Kids, the company noted.
Albion Enterprises maintained its interim payout of 3.0p per share.
During the period, the company's unrealised and realised gains totalled GBP3.9 million, it said, while GBP2.7 million was invested in new and existing companies. "Significant" follow on investments included GBP606,000 in Proveca, for the reformulation of paediatric medicines, and GBP221,000 in Koru Kids, which provides an online marketplace connecting parents and nannies.
"We as a board see the portfolio as being well balanced across a variety of growth sectors," said Chair Maxwell Packe.
"There is a strong pipeline of investments, as well as a number of existing businesses having the potential to continue to deliver positive returns," added Packe.
for shareholders.
Albion Enterprises shares closed untraded on Wednesday in London, last quoted at 106.00p each.
By Evelina Grecenko; [email protected]
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