ALBION Venture Capital Trust, one of the largest listed venture capital firms in the UK, yesterday posted a drop in its net asset value (NAV) following its internal merger with Albion Prime Venture Capital Trust.
The trust, which is one of six under the Albion Ventures umbrella and invests in smaller unquoted companies, reported a NAV of 76p a share for the six months ending September compared to 78p a share for the same period last year. Pre-tax revenues dropped from £529,000 last year down to £413,000. The company said it would maintain its second dividend of 2.5p pence a share taking its full year dividend up to 5p.
Albion Ventures merged the Prime and Venture trusts in September.