7th Feb 2014 10:40
LONDON (Alliance News) - Electra Private Equity PLC Friday said its net asset value crept up 17 pence in the first quarter, as high levels of investment activity continued into the new financial year.
The company's diluted net asset value per share rose to 2,781 pence from 2,764 pence in the three months ended December 31, 2013, according a statement issued to the stock exchange.
Realisations in the quarter added up to GBP89 million, but new investments came to just GBP15 million.
However, the company has since invested GBP85 million in Hotter Shoes and GBP83 million in Ogier Fiduciary Services.
"Following record levels of both new investments and realisations in the year to September 31, 2013, the board is delighted to see a continuation of this high level of investment activity in the opening months of the new financial year. Although new investment in the three month period to December 31, 2013 was at a relatively subdued level, Electra Partners has subsequently finalised two major new investments, in January and February 2014, which will see Electra invest GBP168 million," Colette Bowe, chair, said in a statement.
Electra shares were Friday quoted at 2,400.00 pence, up 7.00 pence, or 0.3%.
By Samuel Agini; [email protected]; @samuelagini
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