BP Marsh profit nearly doubles
BP Marsh & Partners, a venture capital provider, has seen its consolidated profit on ordinary activities before taxation nearly double to £10.7 million in its final year results for the year to 31 January 2016.
This figure is up from £5.9 million in the same time period the previous year.
A total of £10.3 million of its £10.7 million profit was derived from unrealised gains on revaluing the equity investment portfolio in line with current market conditions, an increase of 102 percent on the previous year (2015: net unrealised gains of £5.1 million).
The Group's strategy is to cover expenses from the portfolio yield, and on an underlying basis (excluding equity and treasury portfolio movement) this was achieved with a pre-tax profit of £0.4 million for the year (2015: £0.4 million).
BP Marsh also posted an increase in the equity value of the portfolio of 23.8 percent over the year and reported net asset value of £70.8 million (31 January 2015: £63 million), a 12.4 percent increase, net of dividend.
Total return to shareholders in the year was 13.7 percent, up from 8.2 percent in 2015.
During the year, the group also made new investments in South Africa and additional investment in Nexus Underwriting Management, as well as post-year investment in Asia. Currently, BP Marsh has a portfolio of 13 investments.
Brian Marsh, chairman, said: “We have concluded a year in which our company has developed considerable confidence. The portfolio businesses are performing well as we support them in their development, we have interesting new investment opportunities in the pipeline and a healthy supply of cash.”
