26th Nov 2019 15:53
(Alliance News) - Downing One VCT PLC said Tuesday that uncertain market conditions and a "small number of disappointing setbacks" resulted in a "minor" decrease in net asset value per share in the half-year period.
The investment firm said at September 30, its net asset value stood at 75.5 pence per share, a 3.6% decrease from 78.3 pence per share on the March 31 year-end position, after adding back the 2.0 pence dividend paid during the period the drop was 1.0%.
The company declared an interim dividend of 2.0 pence, unchanged from 31 March.
Downing One said it held a portfolio of 89 investments, valued in total at GBP81.4 million. Of these, 30 are either quoted on AIM or NEX Exchange Growth Market and have a value of GBP23.7 million. The 59 unquoted investments have a value of GBP57.7 million.
"We remain satisfied with the composition of the portfolio for the period to September 30, despite the significant challenges faced by a limited number of investments which has impacted performance," Downing One said.
"We believe that the portfolio includes businesses that can deliver good rewards over time and expect to see further investment into a good pipeline of investment over the remainder of the period," the company said.
Downing One shares were down 1.4% in London at 70.00 pence each on Tuesday.
By Loreta Juodagalvyte; [email protected]
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