22nd Nov 2018 14:48
LONDON (Alliance News) - Princess Private Equity Holding Ltd on Thursday said its net asset value grew in the nine months of 2018, helped by new investments.
NAV total return in the nine months to September 30 was 9.3%, with net asset value of EUR11.44 per share. At the end of the first half, NAV stood at EUR11.06 per share.
The largest contributors to Princess's NAV growth during the third quarter were the direct investments in discount store-chain Action, schools operator Permotio International Learning Sarl and human resources software provider Ceridian Corp.
The company said it invested a total amount of EUR131.8 million over the period in eight companies.
Princess declared a second interim dividend of EUR0.28 per share.
The stock was trading 0.2% lower on Thursday at EUR9.98 a share.
The company said it received proceeds from exited investments totalling EUR03.3 million during the first nine months.
"In the first nine months of 2018 Princess continued to develop positively, with performance driven by strong earnings before interest, taxes, depreciation, and amortization growth at portfolio company level," said Chairman Richard Battey.
"The board believes that the portfolio remains well-positioned to generate further value for shareholders," added Battey.
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