The financial highlights of the results are:
Net Asset Value ("NAV") up 9.5% to £65.5m (31st July 2014: £59.8m)
Increase in the Equity value of the Portfolio of 9.3% in the Period (and an increase of 19.8% since 31st July 2014)
Profit after tax (unaudited) up 100% to £3.4m (31st July 2014: £1.7m)
Final Dividend for the year ended 31st January 2015 of 2.75p per share paid in July 2015
NAV per share up 9.75% to 225p (31st July 2014: 205p)
Average NAV annual compound growth rate of 11.2% achieved since 1990
5.3% Total Shareholder Return for Period
Current uncommitted cash balance of £3.2m
When the Group successfully sold the majority of its shareholding in Hyperion Insurance Group Limited to General Atlantic in July 2013 the Group declared a dividend of 2.75p per share (£0.8m) payable in July 2014, alongside an intention to pay additional dividends of 2.75p per share (£0.8m) for the following two years.
The Group met this aim in the second year of the policy and a 2.75p per share dividend received shareholder approval at the Group's Annual General Meeting held on 22nd July 2015 and was paid on 24th July 2015 to Shareholders registered at the close of business on 26th June 2015.
B.P. Marsh is pleased to announce that for the financial year ended 31st January 2016 the Board has now recommended increasing the proposed dividend to 3.42 pence per share (£1.0m). Additionally, it is the Board's intention to maintain at least this level of dividend for the financial year ended 31st January 2017, subject to ongoing review and approval by the Board and the Shareholders.