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BP Marsh & Partners PLC on Monday said it saw 11% growth in net assets over its recently ended financial year as it looks for more investment opportunities.
As at January 31, net asset value per share increased by 46.3 pence to 462.7 pence, compared to 416.4p on the same date a year ago. Overall, net asset value increased to £166.6 million, up 11% from £149.9 million.
For the financial year ended on January 31, the investor in early stage financial services businesses posted a pretax profit of £19.4 million, which rose 42% from £13.7 million a year ago. Its total shareholder return amounted to £17.6 million.
Chair Brian Marsh said: ‘The group continues to demonstrate the effectiveness of its investment criteria, and following a number of successful disposals, will be looking for more high-quality investment opportunities to bolster an already high performing portfolio.’
The company declared a dividend of 2.78p per share, up 14% from 2.44p per share a year ago. It aims to maintain a dividend of at least 2.78p per share for the next two financial years.
Cash balance as at January 31 stood at £8.6 million, up from £700,000 a year ago.
Looking ahead, BP Marsh & Partners expects to be able to make more successful investments in the remainder of the current year, both within the portfolio and through new business opportunities.
BP Marsh & Partners shares were up 2.7% at 300.000 pence per share on Monday in London.
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