21st Jun 2018 12:08
LONDON (Alliance News) - Octopus Titan VCT PLC said Thursday its portfolio value rose over its recent half year, despite a "particularly busy period".
For the six months to April end, the company's net asset value was down to 94.3 pence after dividend payments, from 96.4p on October 31 and from 95.2p a year ago.
However Octopus Titan's total return for the recent half-year was 0.9%, improved from 0.3% in the six months to April 2017.
Chairman John Hustler said the company registered a net uplift in the value of the portfolio of GBP14 million during the period, excluding additions and disposals. Net assets were GBP617.8 million on April 30, up from GBP432.7 million on October 31.
Octopus declared an interim dividend of 2.0p per share, maintaining its target of delivering a final dividend of 5.0p.
"Your board believes there are many reasons to remain confident about the future for Titan, and, as a result, it is our intention to seek further funds to support our investee portfolio later in the year," Hustler added.
The company is managed by Octopus Investments Ltd and and Octopus AIF Management Ltd.
Octopus shares were untraded at 90.0p midday Thursday.
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