12th Aug 2020 13:17
(Alliance News) - British Smaller Cos VCT PLC on Wednesday said its performance improved in the second-quarter of 2020.
The stock was up 2.5% in London in the afternoon trading at 61.00 pence a share.
The investment company reported net asset value per share as at June 30 of 67.6p, up from 64.5p reported at the end of March.
The company said it has purchased 752,215 shares during the second-quarter at a price of 61.78p each. These shares were placed in treasury.
The trust paid a 2.0 pence a share payout on July 31 .
During the quarter to the end of June, British Smaller made one follow-on investment of GBP100,000 into Ncam Technologies Ltd.
Going forward, the company said it has resources with which it can undertake new investments. Although the short- to medium-term economic outlook appears challenging, having liquidity to invest in businesses operating in innovative ways and in sectors where there is potential growth is beneficial.
"Whilst the conversion process for new investments from initial enquiry to completion is currently slower than previously the company is extremely well placed to take advantage of these opportunities as they arise," British Smaller Cos said.
By Evelina Grecenko; [email protected]
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