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Venture capital company Draper Esprit reported a rise in first-half profit as total investment income was lifted by strong performance from its portfolio companies.
For the six months ended 30 September 2019, pre-tax profit rose to £58.7m from £39.1m and total investment income climbed to £63.1m from £44.0m.
Net asset value per share increased by 10% to 574p from 524p at the end of March.
Gross portfolio value increased 12% to £683m from £594.0m at the end of March, driven by strong performance in the core portfolio.
The core portfolio -- includes the top companies by value that represent approximately 70% of the overall portfolio value -- increased in value by 17% to £485m from £415m seen at the end of March.
'We remain on course to deliver an increase in gross portfolio value in line with our core strategic aim of 20% per annum,' Draper said.
At 9:36am: (LON:GROW) Draper Esprit Plc share price was +11.5p at 476.5p