18th Mar 2014 10:39
LONDON (Alliance News) - EPE Special Opportunities PLC Tuesday said its net asset value rose by nearly a third in its recent financial year, boosted by its two main investments, Nexus Industries and Whittard of Chelsea.
Net asset value increased 32% to 135.37 pence a share from 102.92 pence in the 12-month period to January 31.
"The performance of the portfolio and the progress of the company as a whole in the last twelve months has been encouraging. The company did not complete any new transactions in the prior year. However, improving economic conditions may yield investment opportunities and the company continues to actively source deals," Chairman Geoffrey Vero said in a statement.
EPE said electrical goods firm Nexus traded significantly ahead of budget over the course of 2013 and is continuing to expand and increase margins, supported by its wholly-owned manufacturing facility based in China.
Tea merchant Whittard of Chelsea continued to perform solidly in 2013 and is expecting its premium positioning strategy together with its international and wholesale businesses to support the delivery of improved earnings before interest, tax, depreciation and amortisation in 2014, according to EPE.
EPE shares were Tuesday quoted at 100.00 pence, up 2.6%.
By Samuel Agini; [email protected]; @samuelagini
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