11th Nov 2019 08:35
(Alliance News) - FTSE 250-listed HgCapital Trust PLC on Monday reported an improved performance in the third-quarter of 2019.
The London-headquartered investment firm said its net asset value total return was 18% so far in 2019, with NAV per share as at September 30 of 250 pence, up from 245p at the end of June.
The company's shares were trading at 230p each at the end of September, with share price total return of 32%.
The stock was trading 0.2% lower on Monday in London at 247.49p a share.
Over the quarter, HgCapital said it has made two realisations and two refinancings, delivering GBP39 million back to the company. Further investments deploying GBP4 million were made into businesses.
Looking ahead, HgCapital said "strong" earnings growth and exits at uplifts to book value are expected to continue to drive its NAV performance.
"The company continues to benefit from consistently strong trading across its network of investments, generating further value creation for shareholders as well as protection against the risks of economic downturn or volatility," said Chair Roger Mountford.
By Evelina Grecenko; [email protected]
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