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(Sharecast News) - BP Marsh reported a rise in first-half profit and net asset value on Tuesday, supported by strong investment activity and portfolio growth.
For the six months ended 31 July, the specialist investor in early-stage financial services businesses posted a 9.5% total shareholder return, reflecting both net asset value growth and dividends paid during the period.
Net asset value rose 23.1m to 349.5m, up 7.1% from 326.4m in January, while NAV per share increased to 956.1p from 890.0p.
Consolidated profit before tax rose to 32.1m from 29.0m a year earlier, and group liquidity stood at 52.6m.
During the period, BP Marsh received AUD 6.5m (3.1m) from the sale of Sterling Insurance in Australia and completed three new investments in iO Finance Partners, Amiga Specialty and Cameron Specialty.
Since the period ended, the company said it had made four further investments in Gambit Risk Finance, XPT Producer Co, Salus Capital and Oneglobal Broking.
Chairman Brian Marsh OBE said the first half of 2025 was "another successful period for the company," adding that its core focus remains on identifying opportunities in early-stage financial services distribution businesses, particularly within insurance, and supporting entrepreneurial management teams.
He noted that the company had delivered "substantial profits for the company and dividends for shareholders," with total cash returns of 8m so far in the current financial year, including interim, special and final dividends.
Marsh added that the group entered the second half in a strong position, following both new investments and the Sterling Insurance disposal.
"Our new business pipeline is growing and, with our considerable available cash, we are well placed to make further new investments," he said.
He also noted that as insurance pricing conditions softened, the group has "balanced our portfolio towards supporting specialist teams that can deliver market-beating returns," consistent with its long-standing investment model focused on insurance distribution.
At 1317 BST, shares in BP Marsh & Partners were up 0.74% at 674.96p.
Reporting by Josh White for Sharecast.com.