18th Jul 2025 09:59
(Alliance News) - Bridgepoint Group PLC on Friday noted signs of increasing transaction activity amid "exciting" medium-term growth prospects for private markets, though it posted a decline in half-year profit.
The London-based private equity firm said pretax profit fell 39% to GBP60.6 million in the first half of 2025 from GBP99.9 million a year ago.
Underlying earnings before interest, tax, depreciation and amortisation was GBP128.0 million, down 12% from GBP145.0 million. Underlying Ebitda margin was 48.4%, down from 54.0% a year ago.
Total operating income climbed 82% to GBP290.4 million from GBP159.4 million.
However, personnel costs increased 84% to GBP136.5 million from GBP74.1 million, while finance and other expenses multiplied to GBP30.5 million from GBP6.0 million. Depreciation and amortisation expenses ballooned to GBP32.6 million from GBP8.8 million.
Assets under management jumped 20% to USD86.6 billion as at June 30, from USD72.2 billion a year ago. Fee-paying AuM rose by 1.9% to EUR37.5 billion from EUR36.9 billion.
Bridgepoint declared an interim dividend of 4.7 pence per share, up 2.2% from 4.6p a year prior. It said it will pay a minimum of 4.7p as a final dividend, which also would be up from 4.6p.
The company reaffirmed its guidance, expecting an Ebitda margin between 52% and 55% in 2025 and 2026. For 2024, Bridgepoint had reported an underlying Ebitda margin of 53.8%, higher than 49.9% in 2023.
Chief Executive Officer Raoul Hughes said: "Looking ahead, we are making encouraging progress in fundraising, and there are signs of increasing transaction activity. The medium-term growth prospects for private markets are exciting and we are confident in the firm's long-term strategic opportunity."
Bridgepoint shares were down 0.1% at 354.40 pence each on Friday morning in London, giving it a market capitalisation of GBP2.91 billion.
By Tom Budszus, Alliance News slot editor
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