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Asset manager Intermediate Capital Group reported a rise in net assets, but profit fell more than a third as valuations were hurt by the coronavirus pandemic.
For the year ended 31 March, pre-tax profit fell 37% to £114.5m on-year, while assests under management rose 22% to €45.3bn, with €10.2bn of new money raised.
Its investment arm swung to a £68.6m loss compared with a profit £39.1m profit, reflecting 'lower valuations of unrealised assets in the final quarter as a result of Covid-19,' the company said.
The company raised its final by 2% to 35.8p per share, taking the total dividend in the year up 13% to 50.8p per share
'We expect lower fundraising and investment activity in the short term, but our market fundamentals remain strong, our exposure to the most affected sectors is limited, and we are working closely with all our investments and portfolio companies to help them adapt to this new environment,' chief executive Benoit Durteste said.
At 8:15am: (LON:ICP) Intermediate Capital Group PLC share price was -49p at 1337p