25th Jul 2025 09:25
(Alliance News) - Law Debenture Corp PLC on Friday reported a boost to net asset value during the first half of 2025, setting total returns ahead of the firm's benchmark.
The London-based investment trust provides governance and transactional support services.
Law Debenture's net asset value at June 30 was GBP1.31 billion, up 17% from GBP1.12 billion the year prior, on a fair-value basis. NAV per share rose to 983.6 pence from 857.88p on-year.
NAV total return for the first half at 15.0% versus 9.7% in 2024. The firm noted this "comfortably outperforms" its benchmark, the FTSE Actuaries All-Share Index, which posted a 9.1% NAV total return during the six-month period.
Law Debenture is yet to declare a second interim dividend, though the board expects each of the first three interim dividends to equal one-quarter of the total dividend. Back in May, the firm set a first interim dividend of 8.375p per share, 4.7% higher on-year. The company expects the total dividend for 2025 to be either equal to or higher than the prior year, when it was 33.5p per share.
The Independent Professional Services or IPS division performed well, with pretax profit 7.5% ahead of the previous year. Law Debenture attributed 18% of NAV, around GBP229.9 million to the division, making it the largest income contributor.
Also during the first half, Law Debenture began rolling out its new Professional Services Automation platform. The firm said it has maintained "a measured approach to AI adoption".
"To support our growth, we continue to invest in both talent and technology across the business. These investments enable us to win new business and increase market share, meaning we remain well-positioned to deliver growth over the medium and long term in line with our mid to high single percentage target," commented Chief Executive Denis Jackson.
Investment Managers James Henderson and Laura Foll added: "Companies and individuals have reduced their debt levels as a response to global uncertainties. Therefore, the economy and investors are in a position to absorb volatility... The investment approach will be for us to selectively increase our exposure to UK equities given the low valuations and good corporate management disciplines that are in place."
Law Debenture shares were 0.3% higher at 998.00 pence on Friday morning in London.
By Holly Munks, Alliance News reporter
Comments and questions to [email protected]
Copyright 2025 Alliance News Ltd. All Rights Reserved.
Related Shares:
Law Debenture