Source - Alliance News

Pembroke VCT PLC on Friday reported higher value of investments despite a fall in net asset value, citing macroeconomic pressures such as inflation in the UK.

The venture capital trust focused on early-stage investments in founder-led businesses said net asset value per share as at September 30 was 111.0 pence per share, down 5.7% from 117.7p a year prior.

The company declared an interim dividend of 2.5 pence per share, in line with its annual target of 5.0p.

Pembroke said the total value of investments as at September 30 rose 9.0% to £182.2 million from £167.2 million a year prior.

Looking ahead, Chair Jonathan Djanogly said the board and investment manager continue to monitor the current macro economic environment and inflationary pressures in the UK.

Pembroke shares were untraded at 103.50 pence each on Friday afternoon in London.

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