B.P. Marsh & Partners Plc (AIM: BPM), the specialist investor in early stage financial services businesses, announces its unaudited Group Interim Results for the six months to 31 July 2021 (the "Period").
· Net Asset Value at 31 July 2021 £155.0m (31 July 2020: £142.6m; 31 January 2021: £149.9m)
· Net Asset Value per share 430.4p* (31 July 2020 396.2p; 31 January 2021: 416.4p)
· Consolidated profit before tax of £6.2m (31 July 2020: £6.5m; 31 January 2021: £13.7m)
· Total Shareholder return of 4.0% for the Period including the dividend paid in July 2021 (9.3% for the 12 months since 31 July 2020, inclusive of the July 2021 dividend paid)
· Group cash availability of £3.1m (including undrawn loan facility of £2.0m) as at 31 July 2021
· Current cash £3.5m (including £2.6m loan facility)
· Cash availability (including loan facility) will increase to £5.5m following a £2.0m loan repayment from an investee company
*The diluted Net Asset Value per share is 424.6p including shares held within an Employee Benefit Trust which met certain performance criteria during the Period
Commenting on the results, Brian Marsh OBE, Chairman, said:
"This is a good set of results for the Company, and the continuation of a long trend of strong portfolio growth.
"We continue to believe in our strategy of investing in people with ambition, and a track record of delivering within their sectors, and this again has been borne out by these results. The Group has also demonstrated its flexibility with our most recent exit from MB Prestige Holdings PTY Limited, highlighting the agile nature of the business and its ability to extract value from its investments.
"Looking forward, we continue to seek investment opportunities into new businesses, to diversify our portfolio further, and increase investor returns."