Oakley Capital Investments Limited – Interim results

Oakley Capital Investments Limited – Interim results

Oakley Capital Investments Limited, the AIM-listed company established to provide investors with access to the investment strategy being pursued by Oakley Capital Private Equity L.P., today announces its unaudited interim results for the 6 months ended 30 June 2011.

Highlights

  • Net asset value of £1.80 at 30 June 2011
    - increase of 23% from £1.46 as at 30 June 2010
    - increase of 7% from £1.68 as at 31 December 2010
  • Investment by the Fund in Emesa, a leading e-commerce company in the Dutch online leisure market
  • Investment by the Fund in Time Out New York to enhance previous investment in Time Out Group and create a global digital media group
  • Cash and cash equivalents of £87.2 million
  • Mezzanine and bridging loans provided directly to the portfolio companies of £37.9 million
  • Good performance across the portfolio

Peter Dubens, Director, commented: "The first half of 2011 was another period of solid growth for the Limited Partnership, with a further increase in the unrealised value of its investments underpinned by an improvement in the overall profitability of the portfolio companies.  The acquisitions of both Time Out and Emesa provide a good platform for future growth in particular through geographic expansion and the continued development of their online capabilities.

It is anticipated that improvements in the underlying trading performance of the Limited Partnership's portfolio companies will continue to drive growth in NAV.  The prospects pipeline remains active and presents a number of interesting opportunities.  At the same time, a healthy cash balance and focus on long-term capital appreciation provide scope for us to benefit from any additional deal flow that short-term market turbulence may bring"

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