16th Sep 2013 13:38
LONDON (Alliance News) - EPE Special Opportunities PLC Monday said its net asset value per share increased over a six-month period after its two largest investments, Nexus Industries and Whittard of Chelsea, stood out against an overall good performance across the portfolio.
EPE said its NAV per share increased to 109.15 pence on July 31, compared with 102.92 pence six months earlier on January 31.
The portfolio performance was driven by the company's two largest investments, electrical accessories manufacturer Nexus Industries and tea-and-coffee retailer Whittard of Chelsea.
"Nexus is trading ahead of budget and is continuing to expand and increase margins, supported by its wholly-owned manufacturing facility based in China, while Whittard of Chelsea continued to perform strongly in the six months to July 31 and is expecting to support the delivery of significantly improved margins by the end of 2013 via its premium positioning strategy, international and wholesale," EPE said in a statement.
EPE said that although it hasn't pursued any new transactions so far in 2013, it is actively looking to invest something in the region of GBP2 million and GBP10 million in a range of debt and equity instruments, with possible opportunities later this year.
"In spite of uncertain economic conditions, we are pleased with the performance of the portfolio and the progress of the company over the last six months. We are optimistic that the company's portfolio will continue to perform, and that there exist opportunities to acquire high quality assets at attractive prices," EPE Chairman Geoffrey Vero said in a statement.
EPE shares were Monday quoted at 69.41 pence, down 1.09 pence, or 1.5%.
By Samuel Agini; [email protected]; @samuelagini
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