BP Marsh reports strong annual results on higher porfolio value

2nd Jun 2015 12:19

BP Marsh & Partners reported strong results for 2014, including higher net asset value, profit and returns to shareholders as a result of its portfolio rising in value and strong investment potential.In the 12 months to 31 January, the venture capital provider's equity value of its portfolio swelled 15.5%, while its total return to shareholders rose to 8.2% from 6.9%.Consolidated net profit was £4.9m, up 29% from a year earlier, and pre-tax profit grew 44% to £5.9m thanks to a £5.1m unrealised gain on its investment portfolio's revaluation.On 31 January, the company's net asset value was £63m, or 216p per share, compared to £58.9m, or 202p per share in 2014."The group is in a strong position, having adequate cash to make new investments, provide follow on funding for existing investments and to reward our shareholders," chairman Brian Marsh said.Investors will receive a final dividend of 2.75p for the year, the same as the previous year, with the company aiming to at least maintain this level for the current year.As of 13:00, BP Marsh & Partners were trading 4.61% higher at 147.5p.