SVG Capital records another year of growth

The company reported 11% growth in net asset value per share to 654p during the year to 31 January, compared to a 5% negative return on the FTSE 350.

Total return on SVG’s investment portfolio was 9%, driven by its new strategy implemented since 2012. Post-2012 investments recorded a total return of 19% over the year, and now represented 36% of the investment portfolio.

£94m of calls were paid, funding 16 new investments over the 12 months, including a co-investment in Eyemart Express. The company also saw a second record year of distributions, receiving £486m during the year.

Share buybacks totalled £167m, adding 19p to net asset value. Net cash balance at year-end was £291m.

"SVG Capital has reported its sixth consecutive year of double digit growth. We are particularly pleased that our post-2012 portfolio returned an impressive 19% over the year,” said CEO Lynn Fordham.

“These investments, made under our new strategy, have again proved to be a strong contributor to overall performance.”

Fordham said the year ahead was likely to present a number of macroeconomic, geopolitical and financial market challenges and they expected volatility to continue.

“We are well-placed to weather any uncertainty and take advantage of investment opportunities that may arise,” she concluded.