B.P Marsh & Partners shares (LON: BPM) surged almost 12% on Tuesday as the financial group interim results for the six months to 31 July 2020.
Pre-tax profit rose from £5.6m a year earlier to £6.5m in the latest period and Net Asset Value per share rose to 396.2p, from 360.9p a year earlier.
“B.P. Marsh’s diversified investment portfolio has shown its resilience, delivering NAV growth despite the ongoing market uncertainty,” said Brian Marsh, chairman of the group.
“The outlook is positive for the rest of the year, in no small part due to the hard work and dedication of our investee companies and our own employees in the period.”
Commenting on results and dividend, Marsh said: “During the Period we have seen a 5.1% increase in the valuation of the portfolio from £115.7m to £122.1m, which we are encouraged by, considering the continuing uncertain backdrop of the Covid-19 pandemic. Our portfolio continues to perform in line with management expectations, and the Group aims to be able to deliver Net Asset Value growth at the year end. Our Net Asset Value as at 31 July 2020 was £142.6m or 396.2p per share, up 4.2% over the Period and 9.7% over the prior twelve months.”
The group remains positive of its outlook and said it is confident in carrying out new investments.