Business
Half Yearly Report to 31 July 2014
Half Yearly Report to 31 July 2014.
About this update from Great Portland Estates Plc
[{"type":"text","content":"\n \nRNS Number : 6774S Graphite Enterprise Trust PLC 26 September 2014 \n \n\n26 September 2014\nGRAPHITE ENTERPRISE TRUST PLC\n \nUNAUDITED RESULTS FOR THE SIX MONTHS\nTO 31 JULY 2014\n \nHighlights of the period\n\n \n\n \nGraphite Enterprise continued its solid progress in the six months to July 2014 with the net asset value increasing by 2.9% before payment of the dividend. The portfolio performed well, driven by a number of successful realisations and by continued growth in the profits of underlying companies. The benefit of this was partially offset by adverse currency movements. The share price has been very strong over the last year, increasing by 22%.\n \nWe have been active both in realising and in making investments, with £82 million generated by the portfolio during the period and £53 million invested. \n \nThe Company has been one of the stronger performers in the listed private equity sector in recent years. Our flexible investment strategy and the strong performance of the largest investments position Graphite Enterprise well for future growth. \n \nMark Fane\nChairman\n \n\n\n\n\n+5.7%\n\n\n\n\n\n+2.9%\n\n\n\n\nShare price total return\nThe share price outperformed the FTSE All-Share Index and has increased by 56% over three years \n\n\n\n\n\nNet asset value per share total return\nThe NAV per share increased to 681.2p after payment of a dividend of 15.5p per share in June \n\n\n\n\n+6.5%\n\n\n\n\n\n£11.3m\n\n\n\n\nUnderlying rise in the value of the portfolio in local currencies\nThe portfolio performed well, driven by underlying earnings growth and realisations \n\n\n\n\n\nRecord dividend\nThe dividend paid in June was the highest in the Company's history\n\n\n\n\n£82m\n\n\n\n\n\n£53m\n\n\n\n\nRealisation proceeds*\nProceeds from realisations were equivalent to 19% of the opening portfolio\n\n\n\n\n\nInvestment in the portfolio\nNew investment activity was strong and this has continued since the period end, with a further £30 million invested\n\n\n\n\n* Excluding secondary sales of fund interests\n \n\n\n \nChairman's Statement\n \n \nSummary\n \nGraphite Enterprise made solid progress in the six months to 31 July 2014, with the net asset value per share increasing by 2.9% before payment of the dividend. The net asset value has n...