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(Sharecast News) - Logistics Development Group reported an unchanged net asset value for the quarter ended 30 September, with its private equity portfolio continuing to progress operational initiatives across its investee companies.
The AIM-traded investor said its unaudited estimated net asset value per share stood at 26.7p, the same level recorded at 30 June.
Its portfolio valuations were assessed by its investment manager, DBAY, in line with international private equity and venture capital valuation guidelines.
LDG holds its investments through its wholly owned subsidiary Fixtaia Limited.
The company made no additions or disposals in the period, except for its 15m investment in WS Holdco, a newly created logistics platform.
WS Holdco had since acquired a 78.3% stake in parcel delivery network APC, giving LDG a 33.4% economic interest.
LDG said a cost-saving plan was under way to improve efficiency at APC's Cannock sorting hub.
Following the quarter end, WS Holdco also bought controlling stakes in three additional logistics businesses, including William Stobart & Son and WS Digital Freight, without diluting LDG's position.
Finsbury Food Group, LDG's largest holding, generated preliminary first-quarter revenue of 109.9m for the year ending June 2026, a 1% increase year on year, while adjusted EBITDA rose by 2m to 10.8m.
The bakery group benefited from the acquisition of Lola's Cupcakes and the impact of automation projects, and continues to assess targeted acquisitions.
SQLI, LDG's European IT services investment, delivered 3% like-for-like revenue growth in the third quarter of 2025, outperforming peers despite subdued market conditions.
Last 12 months adjusted EBITDA stood at 26m, a 10% margin and 100 basis points higher than the previous quarter.
DBAY and management were preparing a new operating model for rollout in early 2026.
Alliance Pharma continued to implement DBAY's value creation strategy during the quarter, appointing new distribution partners across its healthcare portfolio.
LDG said the transition was causing temporary disruption but was expected to support longer-term growth.
The Alliance management team was due to present an updated value plan in November.
Logistics Development Group also confirmed an update to the DBAY concert party shareholding.
DBAY-appointed non-executive director Jakub Crhonek was found to hold 585,253 LDG shares, unchanged since 2014, and was presumed to be acting in concert.
As a result, the DBAY concert party's aggregate interest now stood at 146,092,479 ordinary shares, representing about 35.30% of the company.
LDG said it would continue to update the market as its portfolio initiatives mature.
At 1220 GMT, shares in Logistics Development Group were up 7.48% at 15.42p.
Reporting by Josh White for Sharecast.com.