RCS - RIT Cap. Partners - FY results analysis from QuotedData

RIT Capital PartnersAnnouncement

03/03/2025 08:30

For best results when printing this announcement, please click on link below:
https://newsfile.refinitiv.com/getnewsfile/v1/story?guid=urn:newsml:reuters.com:20250303:nRSC0598Za&default-theme=true

RNS Number : 0598Z  RIT Capital Partners PLC  03 March 2025

RCP QD Newswire - FY results analysis from QuotedData

3 March 2025

 

Firing on all cylinders

 

·    RIT Capital Partners (RCP) has reported annual results for the year
ended 31 December 2024 this morning. It posted strong numbers, with all three
investment pillars - quoted equities, private investments, and uncorrelated
strategies - delivering positive returns.

 

·    NAV was up 7.7% over the year to 2,614p per share. Including
dividends, the NAV total return was 9.4%. This compares to returns on its
reference performance benchmarks - CPI +3% and the MSCI ACWI (50% sterling) -
of 5.5% and 20.1% respectively.

 

·    Strong operational performance has led the company to propose a 10.3%
dividend uplift for 2025 to 43.0p per share, which would be the twelfth
successive year of dividend growth.

 

·    Share price total return was 7.9%, reflecting the trust's discount
widening by 1.6 percentage points to 24.0%. Having bought back £80m shares in
the year, the board has signalled its confidence in the NAV and continues to
allocate capital to buybacks in 2025.

QuotedData's view

RIT Capital Partners' (RCP's) focus on capital preservation through a flexible
and diversified portfolio seems the ideal tonic for the current uncertain
macroeconomic and geopolitical backdrop. Equity markets have been driven by a
narrow group of mega-cap technology stocks, but risk lurks in the form of high
valuations and an AI war with (reportedly cheaper) Chinese counterparts.

The importance of RCP's selective approach and focus on undervalued small- and
mid-cap stocks has come to the fore here and could continue to pay off
handsomely going forward, with an expected broadening of technology 'winners'
and a portfolio aligned with other global megatrends it has identified, such
as medical advances.

Having bounced back in 2024 from a disappointing couple of years, including
the trust's first NAV decline in more than a decade in 2022, it was a surprise
to see the company's discount widen during the year to 24.0%, and march out
further still in the first two months of 2025. In our view, this presents an
opportunity for investors to buy shares in the company at an extremely
attractive entry price.

Click here for the full report
(https://quoteddata.com/research/rit-capital-partners-full-year-results-analysis-mc/)

This research is also available free on our website www.quoteddata.com where
you will also find news, performance data and factsheets on every London
listed Investment Company and REITs. QuotedData writes and distributes
research on a number of quoted companies, facilitates meetings between those
companies and existing and potential investors and assists in raising
additional capital where required.

NB: Marten & Co was paid to produce this note on RIT Capital Partners Plc,
and it is for information purposes only. It is not intended to encourage the
reader to deal in the security or securities mentioned in this report. Please
read the important information at the back of this note. QuotedData is a
trading name of Marten & Co Limited which is authorised and regulated by
the Financial Conduct Authority. Marten & Co is not permitted to provide
investment advice to individual investors categorised as Retail Clients under
the rules of the Financial Conduct Authority.

 

QUOTEDDATA

50 Gresham Street | London EC2V 7AY

Tel: +44 (0) 20 3691 9430

 

www.quoteddata.com | research@quoteddata.com | www.martenandco.com

 

This information is provided by Reach, the non-regulatory press release distribution service of RNS, part of the London Stock Exchange. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact
rns@lseg.com (mailto:rns@lseg.com)
 or visit
www.rns.com (http://www.rns.com/)
.

RNS may use your IP address to confirm compliance with the terms and conditions, to analyse how you engage with the information contained in this communication, and to share such analysis on an anonymised basis with others as part of our commercial services. For further information about how RNS and the London Stock Exchange use the personal data you provide us, please see our
Privacy Policy (https://www.lseg.com/privacy-and-cookie-policy)
.   END  NRAPKNBBFBKKFNK