8th Nov 2023 09:46
(Alliance News) - HgCapital Trust PLC on Wednesday announced that portfolio trading in the third quarter of 2023 was strong, boosting its net asset value.
The London-based investor, providing access to the private equity investments of New York-based manager Hg, said NAV per share rose to GBP4.94 at September 30.
HgCapital Trust shares rose 2.4% to 392.00 pence each on Wednesday morning in London.
The company said its NAV per share growth represented a total return of 4.8% over three months. For June 30, it had reported NAV per share of GBP4.73, slightly up from GBP4.51 at the end of September 2022.
"Strong portfolio trading and value creation continues to drive growth," the trust proclaimed.
HgCapital Trust said its continued strong long-term performance was driven by robust trading with the top 20 investments, which represent 76% of its portfolio by value. It noted a 27% sales growth and a 28% increase in earnings before interest, tax, depreciation and amortisation over the past 12 months.
By Tom Budszus, Alliance News reporter
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