In QuotedData’s morning briefing 2 March 2022:
- Apax Global Alpha (APAX) has posted its full-year results for the 12 months to 31 December 2021. During the period, its NAV return was 28.7% while a dividend of 12.33p per share was declared for the full year 2021, in line with the stated dividend policy of distributing 5% of NAV per annum. The trust saw operating improvements, earnings growth, and a supportive valuation environment drove performance in the portfolio. Meanwhile, it received distributions of €275m from Private Equity exits during the period and achieved an average uplift of 50.2%. This was balanced against €200m of calls for new investments. Capital not invested in Private Equity was deployed into Derived Debt, with returns in debt driving steady performance in the Derived Investments portfolio which achieved a 15.8% total return.
- BB Healthcare (BBH) has changed its name to Bellevue Healthcare Trust with immediate effect. The name change is to ensure consistency between the name of the company and its investment manager, Bellevue Asset Management.
- Supermarket Income REIT (SUPR) has posted a 5% uplift in EPRA net tangible assets (NTA) to 113p per share in half year results to 31 December 2021. The group’s property portfolio increased 2% in the period on a like-for-like basis and is now worth £1,413.5m after it acquired £243.4m worth of new properties in the period. Following the acquisitions and the effect of rent reviews, annualised passing rent grew by 52% to £70.2m. EPRA earnings per share was up 11% to 3.1p and the group declared dividends in the period of 3p per share. The group said it was on track to deliver its full-year target dividend of 5.94p.
We also have final results from Honeycomb while Cordiant Global Agricultural Income intends to float.