Blackfinch Spring VCT posts lower NAV but dividend target on track

Blackfinch Spring VCT PLC on Tuesday said it remains confident in its long-term prospects as it reported a decline in net asset value in the first half of 2026.

Shares in the venture capital trust closed up 6.1% at 87.00 pence each in London on Tuesday.

Pretax loss amounted to £1.9 million in the six months ended June 30, narrowed from £1.2 million the year prior.

Net asset value per share declined to 88.36 pence from 99.10p.

Dividends totalling 4.7p per share were distributed during and subsequent to the first half of the year, keeping the company on track with its objective of paying annual dividends equivalent to around 5% of NAV, it said.

"While market conditions are likely to remain uncertain in the near term, the board remains confident in the company's long-term prospects. The portfolio continues to mature, the pipeline of investment opportunities remains healthy, and the Investment Manager remains disciplined in its approach to investing in innovative, high-growth businesses," Chair Peter Hewitt said.

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