Petershill falls to FY IFRS loss

Private equity firm Petershill Partners reported a full-year IFRS loss on Tuesday as it traded against "a volatile market backdrop" in its first year as a publicly listed company.

Petershill reported an IFRS loss of $453.0m, a marked reversal from the prior year's profit of $248.0m, while losses per share of USD 39.4 cents were down from 2021's earnings per share of USD 64.1 cents.

However, adjusted pre-tax profits surged from $98.0m to $273.0m, driven by new and follow on investments in partner-firms, while adjusted underlying earnings more than tripled to $336.0m.

The FTSE 250-listed group noted that its adjusted underlying earnings margin expanded from 87% to 89%.

Petershill also proposed a final dividend of USD 11 cents, taking its total dividend per share to USD 14.5 cents, with its total capital return for 2022 of $215.0m being made up of $50.0m in buybacks and $165.0m in total interim and proposed final dividends.

As of 0820 BST, Petershill shares were up 4.26% at 156.80p.

Reporting by Iain Gilbert at Sharecast.com