16th Jun 2025 12:18
(Alliance News) - Triple Point Venture VCT PLC on Monday reported a swing to profit during its most recent financial year, despite a decline in net asset value.
The London-based investor in early-stage small and medium-sized enterprises said it swung to pretax profit of GBP636,000 in the year that ended February 28, from a GBP785,000 loss the year before.
This was driven by its investment return more than tripling to GBP2.9 million from GBP943,000 the prior year.
Net asset value per share at February 28 was 95.44 pence, down 3.2% from 98.55p a year prior. The firm swung to earnings per share of 0.86p from a loss per share of 1.46p.
Triple Point Venture declared a total dividend of 15.00p per share for the year, up 36% on-year from 11.00p. It doubled its final dividend to 4.00p from 2.00p.
"While climate tech has faced some political headwinds in the US, particularly following the election of Donald Trump, we remain confident in the sector's long-term viability and the inevitable transition to sustainable energy and supply chain sources, which will bring substantial investment opportunities. We will continue to invest in start-ups that can effectively deploy software and other technology to improve the sustainability and efficiency of larger businesses," said Chair Jamie Brooke.
"Exit strategies have evolved, with IPOs becoming less frequent, and mergers and acquisitions emerging as the preferred route. Larger corporations and well-established startups are actively acquiring smaller companies to strengthen their market positions, a trend particularly evident in the fintech sector.
"Despite global uncertainties, the UK remains a dynamic centre for venture capital activity, adapting to challenges and capitalising on new opportunities."
Shares in Triple Point Venture last traded at 89.00 pence each in London.
By Emily Parsons, Alliance News reporter
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