BP Marsh profit slips amid lower investment gains; net asset value up

BP Marsh & Partners PLC on Tuesday reported record dividend payments of during the current financial year to date, following the publication of its half-year results.

The London-based investor in early-stage and small to medium-sized financial services intermediary businesses reported pretax profit for the six months ended July 31 of £22.8 million, down 29% from £32.1 million a year earlier.

Net asset value at July 31 was £372.2 million, up 3.3% from £360.2 million at January 31, while NAV per share rose 3.8% to 1,048.5 pence from 1,009.9p.

BP Marsh said investment gains for the first half fell 23% to £24.0 million from £31.3 million.

The company invested in three new companies and increased its holding in Pantheon Pantheon Specialty Group Ltd during the period. The new investments were Ventura Risk Partners Holdings Ltd, Nine Edge Wealth Ltd and Autonomy Investment Partners LLC.

The group's equity portfolio value increased 8.3% to £296.5 million from £273.8 million over the period.

After the period ended, BP Marsh completed its investment in Dauntless U/W Limited, acquiring a 30% stake in the marine hull insurance specialist.

BP Marsh said it had paid £13.0 million in dividends during the financial year to date, equivalent to 36.29p per share and a record for the company. This included a final dividend of 6.98p per share paid in July.

Looking ahead, the company said: "With £37.4 million of group funds at 31 July 2026, no debt, a growing income base and a robust pipeline, the group remains well positioned to balance selective new investment with continued returns to shareholders, and to support its entrepreneurial management teams as they grow their businesses.

"The board continues to see attractive opportunities created by sector consolidation and by experienced teams seeking patient, supportive capital, while the increasing maturity of parts of the portfolio provides further potential for cash realisations and capital recycling over time."

Shares in BP Marsh were up 1.4% to 676.36 pence per share on Tuesday afternoon in London.

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