15th Jun 2021 15:28
British Smaller Cos VCT PLC - venture capital trust - As at March 31, net asset value per share up 18% at 75.8 pence from 64.5p the same date the year before. Total return up 7.0% year-on-year to 233.2p from 217.9p.
Proceeds from realisations and loan repayments totalled GBP2.5 million, delivering a profit over cost of GBP1.3 million. During the year, the trust made four new investments, worth GBP7.8 million in total.
As at the end of March, the trust's investment portfolio was valued at GBP73.9 million, up 53% from GBP48.4 million the year prior.
"Whilst trading conditions have been very different to previous years, the majority of the portfolio has seen strong recovery and growth in value, with 22 companies exhibiting a combined increase in unrealised value of GBP25.05 million; six experiencing an aggregate reduction in value of GBP3.58 million, and six others static," said Chair Helen Sinclair.
"This performance reflects a combination of good execution by the various management teams, and also that the portfolio has less exposure to the sectors most significantly impacted by Covid-19, principally UK hospitality, international travel and entertainment and leisure," Sinclair added.
Current stock price: 68.00 pence
Year-to-date change: up 4.6%
By Dayo Laniyan; [email protected]
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