7th Apr 2020 18:49
(Alliance News) - Mobeus Income & Growth VCT PLC on Tuesday said its net asset value dropped in 2019 in spite of strong gains in its portfolio.
As at December 31, the venture capital trust's net asset value stood at 68.78 pence per share, down from 70.25p the same date the year before.
The trust's portfolio was valued at GBP51.7 million from GBP48.2 million the prior year, as GBP5.9 million was invested into five new growth capital investments.
The portfolio achieved a net increase of GBP5.8 million on investments, with positive increase from Auction Technology Group, MPB Group and Proactive.
Mobeus Income & Growth declared a dividend of 10.00 pence per share, up from 7.00p the year before.
"While the short-term outlook for the UK economy is unpredictable, your board considers that your company is well positioned, with a portfolio still including relatively mature investments providing an income return, and an increasing proportion of younger, growth capital companies seeking to achieve scale. The strong results achieved for the year reflect the growth and valuation increases in both elements of the portfolio, underpinned by successful realisations," said Chair Clive Boothman.
Shares in Mobeus Income & Growth closed 2.6% higher at 58.50 pence on Tuesday in London.
By Dayo Laniyan; [email protected]
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