12th Feb 2020 10:56
(Alliance News) - EPE Special Opportunities Ltd on Wednesday said its net asset value climbed year-on-year helped by growth in tea seller Whittard of Chelsea and LED lightning firm Luceco PLC, its two largest assets.
EPE said its net asset value at January, its year end, was 55% higher annually at 317.18 pence from 205.19p.
Shares in the company were 10% higher at 196.00p each in London on Wednesday afternoon.
EPE said the "strong performance" was driven by Luceco and Whittards.
London-listed Luceco in January said revenue for the year ended December 31 rose 5.0% to GBP172 million from GBP163.9 million in 2018.
Luceco shares climbed 5.5% to 138.20p each in London on Wednesday morning.
Whittard meanwhile, which is not listed, "displayed encouraging sales growth and improved profitability over the period".
EPE added: "The business's UK retail estate continued to perform strongly, achieving 9.1% like-for-like sales growth, whilst further afield three new stores were opened in Taiwan. Growth in Whittard's e-commerce channel was maintained both domestically and in China."
Whittards is owned by EPIC Private Equity LLP, which acts as an investment advisor to EPE.
Elsewhere, investee David Phillips Furniture Ltd "improved steadily" in 2019. EPE said the furniture seller found "new opportunities to improve sales and profitability".
Pharmacy2U, which delivers prescriptions to the homes of NHS patients in the UK, also had "strong growth" in 2019, EPE added.
Chair Clive Spears said: "The performance of the company for the year ending January 31 has been excellent, led by a significant recovery in value at Luceco plc and encouraging sales and profit growth at Whittard."
By Eric Cunha; [email protected]
Copyright 2020 Alliance News Limited. All Rights Reserved.
Related Shares:
Epe Special Opp