|
Triple Point Venture VCT PLC on Wednesday said its pretax profit fell in the first half of the year, as net asset value declined. The London-based investor in early-stage small and medium-sized enterprises said pretax profit fell 55% to £372,000 in the six months to the end of August from £821,000 a year ago. The net asset value per share was at 93.94p at the end of August, down 1.6% from 95.44p at the end of February and 3.8% lower than 97.61p a year ago. The net asset value plus dividends paid was 110.94p, up 0.5% from 110.44p at the end of February and 0.3% higher than 110.61p at the end of August 2024. Chair Jamie Brooke said: ‘The company has made good progress during the period, completing our latest fundraising, making new and follow-on investments, and with several of our portfolio companies progressing too.’ Triple Point Venture VCT noted that seven portfolio companies closed additional funding during the period, of which five were at higher valuations. ‘The valuation gains mentioned above were partly offset by 13 unrealised fair valuation reductions and one realised loss made during the period due to individual portfolio companies’ commercial performance or inability to raise new funding,’ Chair Brooke noted. Looking ahead, Brooke said: ‘Investors should remain aware that NAV volatility may remain high, influenced by global venture capital valuation trends, the commercial performance of portfolio companies and by geopolitical events. Overall, we remain optimistic in the growth potential of the company’s existing diverse portfolio of software businesses and in the new opportunities ahead of us.’ Shares in Triple Point Venture VCT were flat at 88.49p on Wednesday afternoon in London. Copyright 2025 Alliance News Ltd. All Rights Reserved.
|
