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BP Marsh shares jump on strong first-half results

Published 18/10/2022, 12:47
BP Marsh shares jump on strong first-half results

The AIM-traded firm said that made for a net asset value of 499p per share at period end on 31 July, up from 430.4p year-on-year and 462.7p on 31 January.

Consolidated profit before tax totalled £17m for the period, rising from £6.2m a year earlier, while the total shareholder return for the period was 8.5%, including the dividend paid in July.

Group liquidity stood at £14.1m at the end of the first half on 31 July, while its current liquidity was £12.7m.

“I am delighted the company has achieved such a strong set of results, highlighting the success of our investment strategy,” said chairman Brian Marsh.

“These results are a testament to the hard work that goes on across our team and at all of our investee companies.”

Marsh put the company’s performance demonstrated the benefits of having a “diverse portfolio”, both by business line and geography, and showed that the financial intermediary space still had room for “young, dynamic, entrepreneurial” businesses.

“Following a series of disposals in the past 12 months, we are actively seeking new investment opportunities to add to our portfolio while further supporting our investee companies to fund their growth plans,” Brian Marsh added.

At 1029 BST, shares in BP (LON:BP) Marsh & Partners (LON:BPM) were up 7.08% at 304.1p.

Reporting by Josh White at Sharecast.com.

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