Business
Half-year Report for the six months ended 31 Ju...
Half-year Report for the six months ended 31 Ju....
About this update from Icg Enterprise Trust Plc Gbp
[{"type":"text","content":"\n Half-year Report for the six months ended 31 July 20179 October 2017ICG ENTERPRISE TRUST PLCUNAUDITED INTERIM RESULTSFOR THE SIX MONTHS ENDED 31 JULY 2017ICG Enterprise Trust plc ('ICG Enterprise' or the 'Company') presents its unaudited interim results for the six months ended 31 July 2017.STRONG PERFORMANCE AND EXCELLENT PROGRESS AGAINST STRATEGIC GOALSNAV per share of 937p - total return of 8.7% in the six monthsContinued strong operating performance and realisation activity across the portfolioLargest 30 underlying companies generating earnings growth of 15%Highly cash generative portfolio - record period of proceeds £117m received in the period; 20% of the opening portfolio valueRealisations at 36% uplift to carrying value; 3.1x multiple to costSelective investment into compelling opportunities £65m invested in the six monthsCapital deployed into high conviction investments gaining momentum; 54% of new investment in H1Flexibility to adapt investment mix according to where we see the best relative value Strategic benefits of move to ICG continue to add significant value£16m co-investment in Domus Vi alongside ICG Europe VI£8m co-investment in Visma alongside ICG Europe VI completed in September 2017£24m of commitments to two US based managers £10m secondary investment in restructuring of ICG Recovery Fund 2008BContinued excellent short, medium and long-term outperformancePerformance to 31 July 2017*6 months1 year3 year5 year10** year Net asset value per share (total return) +8.7% +20.1% +45.9% +77.4% +120.7% Share price (total return) +8.1% +29.5% +38.2% +116.0% +102.2% FTSE All-Share Index (total return) +7.1% +14.9% +25.7% +65.0% +70.4% * All figures are on a Total Return basis**As the Company changed its year end in 2010, the ten year figures are for the 121 month period to 31 July 2017. Jeremy Tigue, Chairman, commented:\"These results continue your Company's excellent long-term performance, with both the net asset value and share price outperforming the FTSE All-Share Index over one, three, five and ten years. \"I have been a Board member of the Company for almost a decade and have observed first-hand the evolution of the investment portfolio and the significant shareholder value created by the team's excellent long-term track record and highly selective investment approach.\"Th...