14th Jun 2018 10:41
LONDON (Alliance News) - Syncona Ltd on Thursday said strong results from its science portfolio and new investments resulted in an increased return for the 2018 financial year.
The FTSE 250-listed life sciences investor said net assets rose 18% to GBP1.06 billion for the year ended March 31, or 158.9 pence per share, up from GBP895.2 million, or 135.8p per share recorded in the comparative year ago period.
The strong performance driven was by 57% growth from the life science portfolio and a 7.5% return from fund investments.
"Within our life science portfolio, performance has primarily been driven by the valuation increases of a number of our established and maturing portfolio companies, in particular Blue Earth, Nightstar and Autolus. Together these increases added GBP152.9 million to the value of the portfolio," the company said.
"The 7.5% return from the fund investments was predominantly driven by the long-biased elements of the portfolio, with both equity hedge funds and equity funds producing strong constant currency returns of 9.9% and 13.6%, respectively," the company added.
The company declared an unchanged dividend of 2.3p per share.
Shares in the company were trading flat at 225.00 pence on Thursday morning.
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