24th Jul 2020 16:30
(Alliance News) - Pembroke VCT PLC on Friday reported an annual net asset value fall, with the Covid-19 pandemic reversing growth seen earlier in the year.
Net asset value per share at March 31 came in at 114.67 pence, down 17% from 138.27p at the same point the year before.
"The recent social and economic impact of Covid‑19 has been felt across the portfolio companies and their staff," the venture capital trust said.
"The company's portfolio had seen strong performance in the 11 months to February 2020 with the gains largely reversed in March 2020 as a result of Covid‑19."
Among its investees is the Five Guys UK burger chain. The restaurant sector in the UK was forced to close back in March due to lockdown measures.
By Eric Cunha; [email protected]
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