14th Mar 2019 11:03
LONDON (Alliance News) - Oakley Capital Investments Ltd said Thursday net assets rose in 2018 on strong profit growth performance from its portfolio.
Oakley Capital's NAV per share at December 31 stood at GBP2.81 compared to GBP2.45 at the end of 2017, a 15% increase.
The investment company's net assets also increased 15% in 2018, rising to GBP574.8 million from GBP502.0 million.
Oakley Capital Investments - an investment company which invests in Oakley Funds, a series of unlisted mid-market equity funds - said the underlying value of its investment portfolio increased 33%.
The portfolio experienced positive revaluations in its three core sectors: consumer, technology, media & telecommunications and education. The revaluations added 29p to NAV with realisations adding a further 14p.
"Impressive portfolio company growth and successful realisations resulted in another excellent year for Oakley Capital Investments, with a total NAV return of 16%, well ahead of the wider market. The current high-quality portfolio of 11 private companies grew average earnings at 39% and realisations returned GBP115 million, at a combined premium of 36% to the holding value," said Chair Caroline Foulger.
The investment company declared a final dividend of 2.25p, resulting in a total dividend for 2018 of 4.5p, flat on 2017's payout.
Oakley Capital believes it has a "resilient" portfolio that can withstand the backdrop of uncertainty hanging over the world economy and is "confident" of delivering further growth in 2019.
Additionally, the investment company announced it will buy-back up to 1.0 million shares. Oakley Capital Investments has 204.8 million shares in issue.
Shares in Oakley Capital Investments were up 0.8% Thursday at 189.56 pence each.
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