19th Jun 2019 14:54
(Alliance News) - Mobeus Income & Growth 2 VCT PLC said Wednesday its net asset value increased in its recently ended financial year on the back of a rise in value of investment portfolio.
The venture capital trust said net asset value as at March 31 was 99.60 pence per share, up from 96.54p the same date the year before.
The value of the trust's investment portfolio as at the end of March increased to GBP30.0 million from GBP26.9 million the prior year, as a result of GBP610,000 from investments realised and GBP2.5 million in valuation movements from investments still held.
In particular, unrealised investments performed positively, with increase from printer services provider ASL Technology Holdings Ltd, outdoor clothing retailer EOTH Ltd and online marketplace platform Auction Technology Group.
Mobeus proposed a dividend of 5.00 pence per share, down sharply from 16.00p the year before.
"The board and investment adviser have carried out an analysis of the possible impact of Brexit on the investment portfolio. The portfolio as a whole is predominantly UK centric and the greatest risk from Brexit is from the boarder impact on the UK economy. Some value impact is possible over time, but Mobeus believes that the portfolio companies have appropriate plans in place and are as well prepared for Brexit as they can be at this point," said Chair Ian Blackburn.
Shares in Mobeus Income & Growth 2 VCT were down 1.2% at 85.0 pence on Wednesday.
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