Octopus Apollo first-half NAV per share grows; total return down

(Alliance News) - Octopus Apollo VCT PLC on Friday said its net asset value per share increased in a "successful" first half.

The London-based investor in higher-risk smaller businesses which brought a product or service to market said net asset value per share increased 3.1% to 53.1 pence per share on July 31, the end of the first half of its financial year, from 51.5p per share a year ago, but down marginally from 53.2p six months ago.

It said it saw good value creation during the period, which was driven by growth in its investment portfolio.

The firm said its NAV total return was 2.3%, down from 5.2% a year ago, and from 11.2% at January 31. It noted net assets reached GBP385.5 million, up from GBP300.9 million a year ago.

Octopus Apollo declared a first-half dividend of 1.4 pence per share, increasing from a 1.3p dividend a year ago.

The firm said its pretax profit slid to GBP9.1 million, from GBP15.0 million.

Octopus Apollo shares fell 0.3% to 49.00 each on Friday afternoon in London.

By Harvey Dorset, Alliance News reporter

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