Business
Unaudited results for year ended 31 January 2016
Unaudited results for year ended 31 January 2016.
About this update from Icg Enterprise Trust Plc Gbp
[{"type":"text","content":"\n \nRNS Number : 2863V ICG Enterprise Trust PLC 15 April 2016 \n\n \n15 April 2016\nICG ENTERPRISE TRUST PLC\n(formerly Graphite Enterprise Trust PLC)\nUNAUDITED RESULTS FOR THE\nYEAR ENDED 31 JANUARY 2016\n \nICG Enterprise Trust plc ('ICG Enterprise' or 'the Company') presents its unaudited results for the year ended 31 January 2016.\n \nSummary of the Year\n \nOn 1 February 2016 ICG1 was appointed manager, with the Graphite Capital fund investment team transferring to ICG and the Company being renamed ICG Enterprise Trust plc. The investment strategy remains the same.\nICG Enterprise continued to make good progress in the year to January 2016 with the net asset value per share rising by 8.2%. \nThe investment portfolio performed well, rising by 11.1% in value on a local currency basis, driven by growth in profits of the underlying companies. \nRealisations remained very high and significantly in excess of the rate of new investments with the portfolio generating £56 million of net cash in the year. \nA combination of share buy-backs and the dividends paid and proposed will return £17 million of cash for the year to shareholders.\nAfter a very successful 35 years under the stewardship of Graphite Capital, ICG Enterprise is well positioned to continue its excellent long term performance with ICG as manager.\n \n\n\n\n\n+8.2%\nNet asset value per share\nThe NAV per share increased 36p to 731p, extending its period of growth to seven years. Net assets at the period end were £521 million.\n\n\n\n\n\n-1.9%\nShare price\nThe share price2 fell 1.9% to 545p in the period against a 4.6% fall in the FTSE All Share Index. The share price has outperformed the Index over 1, 3, 5 and 10 years. \n \n\n\n\n\n+11.1%\nUnderlying growth in the value of the portfolio in local currencies\nThis performance was split evenly between realisations and increases in the unrealised value of the remaining portfolio.\n \n\n\n\n\n\n£17m\nCash returned for the year\nA final dividend of 6.0p is proposed taking the total dividend for the year to 11.0p (£8 million). Share buy-backs returned a further £9 million. \n \n\n\n\n\n£120m\nRealisation proceeds\nProceeds remained at the very high level of recent years with 28% of the opening portfolio being realised in the 12 months.\n\n\n\n\n\n£64m\nInvestment in the portfo...