UK's Octopus AIM VCT 2 returns to profit in H1, but NAV per share falls
UK's Octopus AIM VCT 2 returns to profit in H1, but NAV per share falls
Overview
UK venture capital trust's half-year net profit reached £675,000, reversing a prior-year loss
Net asset value per share fell to 31.8p from 37.9p a year earlier
Company declared interim dividend of 1.1p per share, down from 1.8p in prior period
Outlook
Company says uncertainty around interest rates and geopolitical tensions weighs on near-term sentiment
Octopus AIM VCT 2 sees attractive valuations among UK smaller companies and a strengthened deal pipeline
Company targets annual dividend of 6% of opening NAV, with potential for special dividends
Result Drivers
PORTFOLIO RESILIENCE - Co said performance was supported by stable earnings and successful realisations from several investments, including a £9.1 mln profit from the sale of Hasgrove
SECTOR EXPOSURE - Co said lack of exposure to resource and mining stocks, which drove AIM index gains, weighed on relative performance
MIXED PORTFOLIO PERFORMANCE - Positive contributions came from Abingdon Health, Popsa, Animalcare, and TPXimpact Holdings, while Craneware, Beeks Financial Cloud Group and Equipmake underperformed
Company press release: ID:nGNE1Flkf5
Key Details
Metric | Beat/Miss | Actual | Consensus Estimate |
H1 Net Income |
| GBP 675,000 |
|
H1 Net Asset Value Per Share |
| GBP 0.32 |
|
Reuters Recommended Reads
July 20 - UK's IP Group rebuffs Railpen's revised 71.3 pence proposal
July 22 - UK's Liontrust quarterly net outflows ease as institutional clients add funds
July 21 - UK's Arbuthnot Banking H1 pretax profit edges up, raises dividend
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(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)