UK's GCP Asset Backed posts £2.2 mln half-year net loss amid wind-down process

By Reuters News


Overview

  • UK asset-backed lender's half-year net loss was £2.2 mln, reversing prior-year profit

  • Company redeemed shares, returning £45.0 mln to shareholders post period end

  • NAV per share fell to 70.22 pence as asset realisation progressed


Outlook

  • Company intends to maintain annual dividend of 6.325 pence per share while substantially invested

  • Company remains focused on managed realisation of assets and return of capital to shareholders


Result Drivers

  • ASSET REALISATION - Co said material repayments from the loan portfolio enabled further share redemptions and capital returns

  • DIVIDEND PAYMENTS - Co maintained regular and stable dividends during the wind-down process


Company press release:


Key Details

Metric

Beat/Miss

Actual

Consensus Estimate

H1 Net Loss

GBP 2.2 mln


Reuters Recommended Reads

  • Sept 14 - UK's Arcontech revenue drops 11.5% on customer loss

  • Sept 14 - UK's GlobalData half-year revenue rises on acquisitions

  • Sept 14 - UK's Keystone Law interim revenue rises 22.5% yr/yr


For questions concerning the data in this report, contact Estimates.Support@lseg.com. For any other questions or feedback, contact reuters.support@thomsonreuters.com.

Capital.com is an execution-only brokerage platform and the content provided on the Capital.com website is intended for informational purposes only and should not be regarded as an offer to sell or a solicitation of an offer to buy the products or securities to which it applies. No representation or warranty is given as to the accuracy or completeness of the information provided.

The information provided does not constitute investment advice nor take into account the individual financial circumstances or objectives of any investor. Any information that may be provided relating to past performance is not a reliable indicator of future results or performance.

To the extent permitted by law, in no event shall Capital.com (or any affiliate or employee) have any liability for any loss arising from the use of the information provided. Any person acting on the information does so entirely at their own risk.

Any information which could be construed as “investment research” has not been prepared in accordance with legal requirements designed to promote the independence of investment research and as such is considered to be a marketing communication.