14th Feb 2023 10:13
BP Marsh & Partners PLC - venture capital investor in financial services businesses - Net asset value as at July 31 last year amounts to GBP179.8 million, up from GBP166.6 million at January 31, 2022. This represents a 8.5% during the six-month period.
BP Marsh says it remains positive regarding its ongoing performance and the outlook for the insurance market. Adds that the market has seen rate increases across most lines of business over the past five years, despite the pace of these increases slowing somewhat over the recent four quarters. Looking ahead, BP March says it does not foresee a return to "soft market conditions" in the near future.
During the financial year ended January 31 this year, BP Marsh says the majority of its investee companies have continued to perform well and have adapted to the economic challenges facing the UK and the rest of the world. Cash and treasury funds are GBP12.1 million at January 31 this year, down from GBP14.1 million at July 31. Says it has also received GBP400,000 in loan repayments since July 31. As at January 31 this year, loan portfolio balance amounts to GBP11.5 million, up from GBP9.2 million six months ago.
BP Marsh expects to report results for the financial year ended January 31, 2023 on June 13.
Chief Investment Officer Dan Topping says: "It has been good to see the majority of our portfolio produce substantial growth over the financial year to January 31 2023, and I am confident that the group's full year results will be in line with historical performance."
Current stock price: 346.00 pence, up 1.2% on Tuesday morning in London
12-month change: up 3.9%
By Xindi Wei, Alliance News reporter
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