10th May 2007 07:01
LMS Capital PLC10 May 2007 10 May 2007 LMS Capital plc AGM statement LMS Capital plc, ("LMS Capital" or "the Company"), the AIM-quoted investmentcompany with stakes in public and private UK and US companies and funds, hasissued the following statement ahead of the Annual General Meeting of theCompany which is being held today. The Company has continued to make good progress to date in 2007 and thehighlights of the year so far include: * Our investments in the energy sector continue to perform well, reflecting the strong performance of oilfield services businesses, and the value of our quoted securities in this sector increased in the three months ended 31 March 2007. This increase in value more than compensated for the impact of the decline in the share price of ProStrakan Group (our largest investment in the healthcare and medical sector) in the same period. * Energy Cranes International, our largest unquoted investment, has enjoyed a strong first quarter performance. Revenues for Energy Cranes in the three months ended 31 March 2007 are 19% ahead of the corresponding period last year and significantly ahead of budget. * The companies in our UK technology portfolio continue to report growth in demand for their products and services. In the year to 31 March 2007 the total revenues of these companies were ahead of the corresponding period a year ago by more than 25%. * Spectrum, one of our largest fund interests, completed a number of exits in the first quarter of the year, resulting in distributions to the Company of over US$6 million, representing a significant gain compared to cost. * Method Products, Inc, a consumer products company and one of the portfolio companies of San Francisco Equity Partners, has continued to experience strong growth. Revenues in the three months ended 31 March 2007 were over 40% ahead of the corresponding period last year. Commenting on the Company's performance to date in 2007, Robert Rayne, ChiefExecutive Officer, said: "Developments so far this year have underlined that theCompany continues to benefit from our strategy of focusing on the sectors andgeographies where we have significant management expertise. Further, our networkof contacts and relationships in the private equity sector continues to providea steady inflow of investment opportunities. " # Ends # For further information please contact: LMS Capital plc 020 7935 3555 Robert Rayne, Chief Executive Officer Martin Pexton, Managing Director Tony Sweet, Chief Financial Officer Brunswick Group LLP 020 7404 5959 Simon Sporborg Anisha Patel N M Rothschild & Sons Limited 020 7280 5000 Duncan Wilmer This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
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