SVG Capital plc
Results for the 12 months to 31 January 2016
Sixth consecutive year of double digit NAV growth
11% growth in NAV per share to 654p; compares to a 5% negative return of the FTSE 350
- Sixth consecutive year of double digit NAV growth
14% total shareholder return over the 12 months
Continued strong performance of investments made under the new strategy
- 9% total return on the investment portfolio driven by post-2012 investments and non-core assets
- Post-2012 investments recorded a total return of 19% over the year and now represent 36% of the investment portfolio
- Strong operating performance and two realisations
- In particular, companies in the TMT and Healthcare sectors have delivered double digit revenue and earnings growth
£94m of calls paid funding 16 new investments, including co-investment in Eyemart Express
Second record year of distributions; £486m received in the 12 months
- A number of the larger more mature investments sold during the year
£167m of share buybacks and tenders in the 12 months
- Continues to be highly accretive - adding 19p to NAV during the year
Strong balance sheet; well placed to take advantage of investment opportunities
- Net cash balances of £291m; good coverage of uncalled commitments
Good investment pipeline - expect to make two to three new commitments this year
Lynn Fordham, CEO, commented: "SVG Capital has reported its sixth consecutive year of double digit growth. We are particularly pleased that our post-2012 portfolio returned an impressive 19% over the year. These investments, made under our new strategy, have again proved to be a strong contributor to overall performance.
"The year ahead is likely to present a number of macroeconomic, geopolitical and financial market challenges and we expect volatility to continue. We are well placed to weather any uncertainty and take advantage of investment opportunities that may arise."
