B.P. Marsh & Partners Plc
(“B.P. Marsh”, the “Company” or the “Group”)
Trading Update
B.P. Marsh, the niche venture capital provider to early stage financial services businesses, is pleased to provide the market with an update on trading for the six months ended 31 July 2020 (the “Period”).
Covid-19
Our highest priority remains the health and safety of our staff, alongside supporting our partners throughout these unprecedented times. We have been impressed by the skilled dedication and competence demonstrated by all of our staff in overcoming any inconvenience caused by working from home during the Covid-19 pandemic.
Dividend
On 31 July 2020 the Company paid a dividend of 2.22p per share to all shareholders on the Register as at 26 June 2020 and continues to seek to balance rewarding loyalty to its shareholders and retaining future investment capital in its considerations regarding future dividend policy.
Cash Balance and Loan Facility
As at 31st July 2020 the Group had a cash balance of £1.2m in addition to an undrawn loan facility of £3m from Brian Marsh Enterprises Ltd.
New Business Opportunities and Outlook
The 6-month interim period closed with a total of 22 new opportunities having been presented to the Group, compared to 49 over the same period last year. Of the 22, the majority were in the insurance sector. Whilst this is a decrease to the same stage last year, this is to be expected given the challenges that were created throughout the period, due to Covid-19.
The Group remains well positioned to carry out new investments, with a number of early stage opportunities in the pipeline, which should continue to develop over the course of the year.
The Group continues to focus on investing in niche SME sectors backed by experienced and capable management teams, which will create long term growth and consequential value.