Interim results for the six months ended 31 July 2024

NAV per Share of 1,946p

Highlights

  • NAV per Share of 1,946p at 31 July 2024, NAV per Share Total Return* of 2.8% in the period (5 year annualised: 12.5%)
  • Portfolio Return on a Local Currency Basis of 3.8% (Sterling return 2.6%) for the six months in the period
  • Portfolio companies reporting ~14% LTM earnings growth1
  • Third consecutive six-month period of higher new investment levels
  • Nine Full Exits in the period generating proceeds of £48.7m and representing a weighted-average Uplift to Carrying Value of 25.8%
  • Q2 dividend of 8.5p per share, taking total dividends for H1 FY25 to 17p (H1 FY24: 16p). The Board’s intention remains to pay total dividends of at least 35p per share for FY25, an increase of 6% on FY24
  • Buybacks continue to be executed: £21m returned in H1 FY25 at a weighted-average discount to NAV of 37.8% across
  • both long-term (£11m) and opportunistic (£10m) programmes, in aggregate increasing NAV per share by 19p (~1%)
  • The Board welcomes the recent announcement by the FCA regarding costs and the Manager is reviewing ICG Enterprise Trust’s disclosures as a result

1 Based on Enlarged Perimeter covering 63% of the Portfolio.
* This is an Alternative Performance Measure. Please refer to the Glossary

Presentation

Results Centre

View or download results