1st Jul 2019 17:28
(Alliance News) - Albion Venture Capital Trust PLC on Monday said it is "encouraged" by its investment options in technology firms following a net asset value growth in its recently-ended financial year.
The investment company reported NAV per share as at the end of March at 79.00 pence, up from 76.00p at the end of March last year.
During the period, the company paid dividends of 5.00p, unchanged on the prior year. For the 2020 financial year, Albion declared a first dividend of 2.50 pence a share, which will be paid at the end of July.
During the year, the company said it made its first seven investments in growth and technology businesses which amounted to GBP1.7 million and now represent a 3% holding in Albion's portfolio.
Healthcare continues to be the largest sector in Albion's portfolio, now representing 42%, which is a slight increase from last year.
"We are pleased with the performance of the company's existing investment portfolio during the year under review," said Chair Richard Glover.
"We are therefore encouraged by the pipeline of earlier stage growth and technology investments currently being reviewed by the investment manager," added Glover.
Albion shares were untraded on Monday in London at 73.75 pence each.
Related Shares:
Albion Venture