LONDON - B.P. Marsh & Partners Plc (AIM: BPM), a specialist investor in early-stage financial services businesses, today reported a 10.3% increase in its Net Asset Value (NAV) for the six-month period ending July 31, 2024. The NAV rose by £23.7 million to £252.9 million, compared to £229.2 million on January 31, 2024, and £203.5 million on July 31, 2023.
The company's unaudited Group Half Year Results also indicated a total shareholder return of 12.1% for the period, which includes the growth in NAV and dividends paid in March, May, and July 2024. NAV per share increased by 9.8% to 690.8p, up from 629.0p on January 31, 2024, and 567.3p on July 31, 2023.
B.P. Marsh's consolidated profit before tax was reported at £29.0 million for the period, a significant increase from the £15.6 million reported for the same period in the previous year. Group liquidity stood at £80.2 million as of July 31, 2024.
The company highlighted the completion of the disposal of Paladin as an example of the success of its investment model. Two new investments were made post-period in the underwriting agencies CEE Specialty and Volt UW.
Chairman Brian Marsh OBE commented on the company's performance, noting the growth in portfolio value, investment realisations, and shareholder returns. He also welcomed Fran as the new CFO and expressed gratitude to Jon for his service.
The fully diluted NAV per share, which accounts for shares held within the Employee Benefit Trust and options granted to directors and employees, is 658.5p. This figure includes £2.9 million of a loan repayable if the remaining shares are sold and considers the options over ordinary shares granted in November 2023 following the achievement of performance criteria for NAV growth.
This report is based on a press release statement from B.P. Marsh & Partners Plc.
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