Over the year to the end of March 2016 Oryx International Growth‘s net asset value rose by 21.3% as compared to a fall of 0.8% in the AIM Index.
Gleeson’s share price rose 50% following better than expected results, while Journey Group share price rose 46%, following successful new contracts with Fedex and extensions with United Airlines and Sky Blue. The Company crystallised significant gains on exiting Synergy Health which rose nearly 40% as a result of a takeover bid, while Tangent Communication was taken private at a significant discount premium to the pre offer price.
Hayward Tyler share price rose 19%, following the announcement of the acquisition of Peter Brotherhood while undertaking a major redevelopment of its Luton factory headquarters. OMG has continued performing well following the disposal of 2d3 sensing. SourceBio Science share price rose 22%, and has continued to perform well since the acquisition of Select, which demonstrated that the business is able to expand into new geographies and enhance its existing service offerings. Bioquell’s share price rose 34% after undergoing a strategic review process which culminated in the successful sale of TRaC Global limited.
Minds + Machines and Goals Soccer currently are undergoing a restructuring exercise, with the focus of building the businesses where shareholder value can be maximised. The only major disappointment was EKF Diagnostics which has faced a challenging year after an acquisition performed significantly below expectations.
Substantial progress has been made with Assetco, with claims amounting to GBP38m plus interest against third parties, whilst the ongoing business continues to perform well.
Within the unquoted portfolio, Celsis performed notably well during the period and was sold at a substantial premium to the 31 March 2015 valuation. Team Rock however missed forecasts and had to be written down, although this was more than offset by the excellent performance of Indoor Bowling which was written up following much better than expected operating results. They say it is anticipated that the unquoted portfolio will continue to add value to the overall portfolio in the current year.
OIG : Another good year for Oryx