24th Jul 2023 16:51
Maven Income & Growth VCT 5 PLC - London-based investment firm focused on long-term capital appreciation - In the six months to May 31, net asset value per share falls 10% to 34.18 pence from 37.98p a year prior. Declares interim dividend of 0.75p per share, down sharply from 3.00p a year prior. Rises GBP7.0 million via subscription. "Whilst the outlook for the UK economy has slightly improved, inflation remains stubbornly high and interest rates continue to rise, meaning that the prevailing economic conditions continue to present challenges for many businesses and consumers," company says. Looking ahead, Maven Income & Growth VCT 5 is optimistic about the UK regarding global technological innovation. Chair Graham Miller says: "In recent years, the manager has demonstrated an ability to construct a large and sectorally diverse portfolio of predominantly private company investments and, based on the current pipeline, it is anticipated that this will continue to expand during the second half of 2023. "
Current stock price: 33.00 pence, up 3.1% on Monday
12-month change: down 8.3%
By Tom Budszus, Alliance News reporter
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