Track record and returns
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St Peter Port Capital - (SPPC.L)
Interim Results for the Six Months Ended 30 September 2013
St Peter Port Capital Limited (the “Company” or “St Peter Port”), the AIM quoted investment company whose objective is to generate value by investing predominantly in growth companies shortly before an initial public offering (“IPO”) or other exit events (“pre-IPO companies”), announces its interim results for the six months ended 30 September 2013.
- Investments in 39 companies* at period end
- NAV of 100.2p per share at 30 September 2013, down 10.4% since 31 March 2013, principally resulting from strengthening of sterling and consequent impact on dollar denominated investments in sterling terms
- Further progress in the portfolio in major holdings such as Astrakhan Oil, Brazil Potash and Global Atomic, which plan liquidity events for shareholders in 2014
- £1.35m realised since 1 April 2013, (£1.19m in the period from sale of Iona Energy)
- £60.3m realised since inception, generating a gain of 73% on these investments
- £1.2m invested during the period in 1 new and 2 follow-on investments
- £3.4m in cash as at 16 December 2013.
* excluding companies entirely written down
Bob Morton, Chairman of St Peter Port, said:
“There are many exciting companies in the portfolio which have made significant progress over the last few months and which have advanced plans for liquidity events. Whilst the fact that value is being generated is positive, what matters to the Company is the realisation of our investments. There are good prospects for sizeable transactions in 2014, which we expect generally to occur at a significant premium to our current carrying cost.”
Tim Childs, Investment Advisor to St Peter Port Investment Management Limited, said:
“The portfolio continues to develop well and many of the companies in it have added significantly to their value during our investment period. We remained primarily focused on bringing forward the crystallisation of value in the portfolio, particularly in our major holdings. These offer the possibility of very large further gains if progress continues as it has recently.”
The September 2013 interim report is available as a download on the link below.
For more information on St Peter Port Capital, please contact Hugh Rogers on 0207 408 4067, or firstname.lastname@example.org