26th May 2016 14:11
LONDON (Alliance News) - The Income & Growth VCT PLC, which invests in UK unquoted companies, on Thursday said its net asset value total return was 3.8% for the six months ended March 31.
The company said this was higher than the 3.0% net asset value total return it reported for the same period a year earlier, whilst its share price total return came in at 7.0% for the six-month period, up from 4.3% for the same period a year earlier.
Income & Growth VCT said its cumulative net asset value total return per share, being the closing net asset value plus total dividends paid to date, has risen to 178.92 pence compared to 174.88 pence at the year-end on September 30.
Its net asset value per share was 104.42p at March 31, down from 106.36p at September 30 and from 105.99p at March 31, 2015.
"The portfolio has performed well during the period, increasing in value by 6.5% on a like-for-like basis. During the six months, the company invested a total of GBP4.5 million, principally being GBP4.4 million invested into two new investments. These were Access IS, a leading provider of data capture and scanning hardware, and Redline, a market leader in the provision of security consultancy and services, particularly to airports," Income & Growth VCT said in a statement.
"The sale proceeds for the period of GBP10.7 million arose mainly from GBP7.4 million received from the full realisations of Tessella and Westway in December 2015 and the exit of Original Additions just before the period-end," the company added.
Shares in Income & Growth VCT were untraded on Thursday, having last traded at 92.50 pence.
By Hannah Boland; [email protected]; @Hannaheboland
Copyright 2016 Alliance News Limited. All Rights Reserved.
Related Shares:
Inc&gwth Vct