18th Aug 2015 15:53
LONDON (Alliance News) - Baronsmead VCT 3 PLC, a tax efficient listed company managed by Livingbridge VC, on Tuesday said its net asset value per share increase in the first half.
The company, which invests in UK growth businesses listed on AIM or unquoted, said its NAV per share increased by 5.5% to 107.35p in the six months to June 30 before deduction of dividends. After accounting for the interim dividend of 3.0p per share, NAV at the end of June amounted to 104.35p per share.
"This was attributable to increases in valuation of both the unquoted and quoted portfolios," Chairman Anthony Townsend said in a statement.
Its NAV total return to shareholders for every 100.0p invested at launch amounts to 271.4p, the company said.
"The improvement in the UK economy now appears to be more firmly established. However, the UK economy does not operate in isolation and the external environment remains uncertain with concerns over the on-going issues related to Greece and the Eurozone countries, growth and stock market valuations in China and continued political instability in various regions," Townsend said in a statement.
"The unquoted portfolio contains a higher proportion of newer investments following recent sales. As a result, growth in the value of the unquoted portfolio is likely to be more modest until these investments mature, although some increase in value has begun to take place. The progress made by our newer investments and the company's portfolio diversity and asset mix should help to continue to deliver consistent returns for shareholders," the chairman added.
Meanwhile, Baronsmead VCT 4, another tax efficient listed company managed by Livingbridge VC, said its NAV per share increased by 4.8% to 100.03p in the six months to June 30 before deduction of dividends. It is paying an interim dividend of 3.0p per share.
Its NAV total return to shareholders for every 100.0p invested at launch amounts to 219.7p, the company said.
By Samuel Agini; [email protected]; @samuelagini
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