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EARNINGS SUMMARY: Biotech Growth, Dunedin Enterprise net assets grow

16th Nov 2022 14:54

(Alliance News) - The following is a round-up of earnings by London-listed companies, issued on Wednesday and not separately reported by Alliance News:

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Biotech Growth Trust PLC - London-based investor in global biotechnology companies - Optimistic for future as net asset value per share at September 30 grows 9.6% to 1,049.7 pence from 957.8p at March 31. NAV total return is 9.6%, outperforming its benchmark, Nasdaq Biotechnology Index sterling adjusted, which posted a total return of 6.8%. Looking ahead, cites increase in merger & acquisitions activity, an improved political environment and a "more benign" regulatory environment in the US. "Most importantly, in the biotechnology sector itself, the industry pipeline is growing and the sector continues to offer compelling innovation based on exciting new drug technologies," Biotech says.

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Dunedin Enterprise Investment Trust PLC - UK mid-market private equity house - Net asset value per share grows to 576.6 pence at September 30, 5.6% higher than 546.2p a year ago. Declares 34.0p per share interim dividend, doubled from 16.0p a year prior. Notes tender offer proposed on Wednesday to return GBP41 million to shareholders, up 58% from an offer of GBP26 million a year ago, was approved at the annual general meeting.

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Literacy Capital PLC - also known as BOOK, invests in founder-led and owned businesses - Net asset value per share climbs 20% to 384.9 pence at September 30 from 320.0p at March 31. In the three months to September 30, says NAV total return is 11%, outperforming its FTSE Investment Company and FTSE All-Share indices, which return negative 1.2% and negative 4.5% respectively. Looking ahead, Literacy is confident in portfolio despite the current macroeconomic environment.

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Pembroke VCT PLC - venture capital trust that invests in companies in design, education, food, beverage & hospitality, wellness, digital services and media sectors - Net asset value per share at September 30 falls 6.6% to 117.7 pence from 126.0p at March 31. Investments increase 3.6% to GBP167.2 million from GBP161.4 million over the six months. Firm reiterates intention to start a share buyback in April 2023. Posts brief outlook, with Chair Jonathan Djanogly saying: "We recognise the efforts of the investment manager across the portfolio of investments and in securing new investment opportunities. We shall continue to work with them to generate further shareholder returns as they develop the portfolio."

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By Tom Budszus; [email protected]

Copyright 2022 Alliance News Limited. All Rights Reserved.

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