HGCapital Trust (HGT)

Sector:

Investment Firms

Index:

FTSE 250

469.00p
   
  • Change Today:
    -2.50p
  • 52 Week High: 479.00p
  • 52 Week Low: 327.50p
  • Currency: UK Pounds
  • Shares Issued: 457.73m
  • Volume: 305,948
  • Market Cap: £2,146.75m
  • RiskGrade: 124

Asset performance drives growth at HgCapital Trust

By Josh White

Date: Monday 11 Mar 2019

LONDON (ShareCast) - (Sharecast News) - HgCapital Trust reported a 14.3% improvement in its net asset value per share for the year ended 31 December on Monday, to £21.57.
The FTSE 250 company noted that over the same 12-month period, its share prices rose 3.5% to 1785p, while the FTSE All-Share Index weakened by 9.5%.

Its total net asset value was £84m higher at year-end than it was 12 months earlier, at £805m.

The board proposed a final dividend of 30p per share, making for a full-year dividend of 46p per share.

It reported "strong" revenue and EBITDA growth of 25% and 27%, respectively, across its top 20 investments for the year, which made up 89% of HgCapital Trust's portfolio.

The firm's valuation multiple was 17.3x, and the net debt-to-EBITDA ratio was 5.6x, for its top 20 investments.

A net £217m of cash was returned to the company, and £187m was invested on behalf of the company during the period.

On the management front, HgCapital said its range of board skills and experience was "enhanced" by the appointment of Jim Strang, managing director and head of EMEA at Hamilton Lane Associates, and Guy Wakeley, chief executive officer of Equiniti Group.

New commitments to invest up to £225m in Hg Saturn and Transition Capital over next two to three years were made, broadening the investment reach of the firm in its chosen sectors.

The board said it had been "another strong year of performance" for the company, with a record number of realisations.

HgCapital had selectively invested in 'sweet-spot' businesses, the directors explained, in clusters where it had "many years [of] knowledge".

It said a focus on operational improvement continued to drive performance and deliver significant network benefits, and looking ahead, it said it expected to see further liquidity events over the next 12 months through both exits and refinancings.

Robust double-digit trading performance underpinned the board's confidence in the ongoing growth of its "strong" portfolio, it added.

"We have announced excellent results for 2018 - a total return in net asset value per share of 14.3%, mostly from growth in profits, and well ahead of the wider market," said chairman Roger Mountford.

"Our top twenty investments - 89% of the portfolio - achieved 25% growth in revenues and 27% growth in earnings over the year."

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Note 1: Prices and trades are provided by Digital Look Corporate Solutions and are delayed by at least 15 minutes.

Note 2: RiskGrade figures are provided by RiskMetrics.

 

HGCapital Trust Market Data

Currency UK Pounds
Share Price 469.00p
Change Today -2.50p
% Change -0.53 %
52 Week High 479.00p
52 Week Low 327.50p
Volume 305,948
Shares Issued 457.73m
Market Cap £2,146.75m
RiskGrade 124

HGCapital Trust Star Ratings

Compare performance with the sector and the market.
more star ratings
Key: vs Market vs Sector
Value Not Available
Price Trend
84.80% above the market average84.80% above the market average84.80% above the market average84.80% above the market average84.80% above the market average
91.59% above the sector average91.59% above the sector average91.59% above the sector average91.59% above the sector average91.59% above the sector average
Income Not Available
Growth Not Available

What The Brokers Say

Strong Buy 0
Buy 1
Neutral 2
Sell 0
Strong Sell 0
Total 3
neutral
Broker recommendations should not be taken as investment advice, and are provided by the authorised brokers listed on this page.

HGCapital Trust Dividends

  Latest Previous
  Final Interim
Ex-Div 21-Mar-24 28-Sep-23
Paid 21-May-24 27-Oct-23
Amount 4.50p 2.00p

Trades for 28-Mar-2024

Time Volume / Share Price
13:09 6,886 @ 468.13p
13:04 80 @ 468.57p
13:01 1,274 @ 468.60p
12:58 1,213 @ 469.00p
12:58 84 @ 469.00p

HGCapital Trust Key Personnel

Chair Jim Strang

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