Brexit not a 'lasting cause for concern', says BP Marsh

7th Feb 2019 08:13

(Sharecast News) - Venture capital firm BP Marsh saw revenues and profits continue to increase across the majority of its investments in its last trading year.BP Marsh did not provide an update to its net asset value since the £120.1m given from at the midway point of 2018, or 333p on a per share basis.The AIM-listed outfit confirmed that it will pay a dividend of 4.76p in July for the year ended 31 January, as the group carries on with its efforts to strike a balance between investing cash into new opportunities for long-term capital growth and providing shareholders with a "meaningful and sustainable yield".BP Marsh acknowledged a drop in new opportunities in the year from 77 to 64, something it attributed to uncertainties in recent months surrounding Brexit and other geopolitical pressures."The board does not view this as a lasting cause for concern, however, and anticipates deal volumes to pick up once there is more clarity on the domestic political situation," said BP Marsh.Looking forward, BP Marsh said its focus was firmly on Australia, a territory that "presents good growth investment opportunities".As of 1200 GMT, BP Marsh shares had inched forward 0.35% to 286p.