LONDON (dpa-AFX) - RIT Capital Partners plc (RCP.L) Monday reported profit before tax of 305 million pounds for the full year, significantly higher than 66.1 million pounds in the previous year, primarily helped by higher gains on fair value investments.
Gains on fair value investments rose to 345.9 million pounds from 109.9 million pounds a year ago.
Net profit was 305 million pounds or 210.1p per share, up from 66.1 million pounds or 43.8p per share last year.
Investment income, however, slightly declined to 29.1 million pounds from 29.3 million pounds in the previous year.
Net assets grew 4.4 percent to 3.7 billion pounds from 3.6 billion pounds a year ago, and NAV per share rose 7.7 percent to 2,614p from 2,426p.
The Board has declared a first interim dividend of 21.5p per share for fiscal 2025, to be paid on April 25, to shareholders of record on April 4.
For fiscal 2025, the company plans to increase dividend by 10.3 percent to 43p per share.
'All three of our investment pillars saw positive performance, led by the Quoted Equities portfolio which had another good year. In 2024, we carefully reduced our exposure to Private Investments to a third of net asset value and our emphasis on returns to shareholders continues through a progressive dividend policy and share buybacks,' said Sir James Leigh-Pemberton, Chairman of RIT Capital Partners.
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