27th Oct 2014 08:57
LONDON (Alliance News) - Symphony International Holdings Ltd Monday said its net asset value increased by 11.6% over the three months to September 30, driven by a strong increase in the share price of one of its portfolio companies.
Symphony International invests in consumer-related businesses, primarily in the healthcare, hospitality, lifestyle, and lifestyle/real estate sectors in the Asia-Pacific region.
The company said its NAV at September 30 was USD767.4 million, 11.6% higher than at June 30, when it was USD687.5 million.
"Our NAV per share increased by 11.6% in the third quarter, which has brought the total increase this year to 24.6%. The strong performance is indicative of the quality of assets in our portfolio, and we remain optimistic on incremental growth in the coming years as our portfolio companies continue to expand in the region," the company said in a statement.
It said its NAV per share at the end of the period stood at USD1.47, compared with USD1.31 as of the immediate prior three month period.
"The change in NAV during the third quarter was predominantly due to an increase in the share price of Minor International Pcl and IHH Healthcare Bhd, which continue to report continued expansion and consistent earnings growth," the company added.
Symphony said its share price increased by 6.8% during the quarter.
Shares in the London-listed strategic investment company were up 1.3% Monday morning at USD0.810 per share.
By Rowena Harris-Doughty; [email protected]; @rharrisdoughty
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