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(Sharecast News) - BP Marsh & Partners delivered a strong set of final results for the year ended 31 January, with profit before tax more than doubling to £104.7m from £43.6m a year earlier, it reported on Tuesday.
The AIM-traded specialist private equity investor in early-stage financial services businesses reported a total shareholder return of £101.2m, or 44.2%, driven by robust growth in net asset value (NAV) and £4.0m in dividends paid during the period.
NAV increased by £97.2m to £326.4m, representing a 42.4% rise year-on-year, while NAV per share climbed to 890.0p from 629.0p.
The company's equity portfolio valuation surged 83.5% over the year, reflecting successful exits and new investments.
Notably, BP Marsh completed the disposals of Lilley Plummer Risks and Paladin Holdings/CBC UK, receiving £21.7m and £44.0m respectively.
Four new equity investments were made during the year, with two more added post year-end.
Chairman Brian Marsh described the period as "a year of exceptional performance, realisations, new investments, and cash returns to shareholders."
He added: "BP Marsh creates real value, and, with a robust and diversified portfolio, we will continue to identify opportunities, support entrepreneurial teams and exit only when it is appropriate."
Despite ongoing geopolitical uncertainty, Marsh said the group had "more than succeeded in achieving our objectives," citing the 42.4% NAV growth and successful exits as evidence of resilience.
He attributed the company's performance to the "dedication of our team, the foresight of our investors, and the innovation of our portfolio partners."
Marsh also highlighted the importance of the company's people, stating, "one of BP Marsh's greatest strengths lies not in its capital alone, but in the people who steward it."
Following the year end, BP Marsh had paid or proposed a further £8m in dividends, underlining its commitment to shareholder returns.
At 1438 BST, shares in BP Marsh & Partners were up 2.32% at 641.55p.
Reporting by Josh White for Sharecast.com.
