11th Jun 2019 11:30
(Alliance News) - BP Marsh & Partners PLC on Tuesday said its net asset value grew in its most recently ended financial year, boosted by the strong performance of its investees.
The investment company reported NAV per share as at January 31 of 350 pence, up 3.2% from 339p a year prior, as the equity value of the portfolio rose by 16% to GBP101.9 million from GBP79.1 million.
The company said it saw some "excellent" investee company performances during the year, both in the UK and overseas, with public transport company Nexus continuing to grow strongly. BP Marsh & Partners acquired a further interest in Nexus in October last year, as well as provided it with loan funding in April.
Passenger train operator XPT, meanwhile, announced its latest acquisition in January, alongside which BP Marsh said it provided further funding of USD3.2 million.
In the London insurance market, both Walsingham and CBC made good progress, BP Marsh & Partners said, whilst in Australia the company's most recent investment, ATC Insurance Solutions, has already proved itself to be a strong performer, showing "great" promise.
BP Marsh & Partners declared a final dividend of 4.76p a share, unchanged year-on-year.
"We are pleased to have produced a good overall performance in an uncertain macro environment, which is testament to our developing investment portfolio and the tenacity of our team," said Chair Brian Marsh.
The stock was trading 5.2% lower on Tuesday morning at 292.00p a share.
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