BP Marsh reports in-line trading at half-year stage

BP Marsh&Partners said its portfolio of investments had continued to perform in-line with expectations at the half-year stage of the year, despite the various uncertainties thrown up by the EU referendum.

The self-described provider of niche venture capital to high-growth businesses reported a 4.3% increase in its net asset value to £73.8m, which boosted its NAV per share from 225p one year ago to 253p.

Profits after tax rose 19.5% to £4.0m.

Management recommended paying a full-year dividend of 3.76p, adding that its current uncommitted cash balance stood at £7.9m.