Molten Ventures (GROW)

Sector:

Financials

Index:

FTSE Small Cap

240.00p
   
  • Change Today:
      14.00p
  • 52 Week High: 311.80
  • 52 Week Low: 208.80
  • Currency: UK Pounds
  • Shares Issued: 189.05m
  • Volume: 1,345,294
  • Market Cap: £453.71m
  • RiskGrade: 184

Molten Ventures swings to loss in difficult year for tech

By Josh White

Date: Thursday 15 Jun 2023

LONDON (ShareCast) - (Sharecast News) - Technology investor Molten Ventures reported a gross portfolio value of £1.37bn as of 31 March on Thursday, representing a decrease from £1.53bn a year earlier.
The FTSE 250 company said in its final results that its net assets stood at £1.19bn, down from £1.43bn year-on-year, while its net asset value per share was reported at 780p, a decline from 937p at the end of the prior year.

Its gross portfolio fair value movement experienced a significant decline, reaching -16%, in contrast to a positive movement of 37% in the 2022 financial year.

Despite that setback, the company still invested £138m in cash during the year, while it secured an additional £41m from EIS/VCT funds to support its investment activities.

That still, however, represented a decrease from the prior year, when £311m was invested from the plc, along with £45m from EIS/VCT funds.

During the year, the firm realised £48m in cash proceeds, a decrease from the prior year's figure of £126m.

Molten Ventures also reported £23m in consolidated group cash, down from £78m at the end of the 2022 financial year.

The company expanded its debt facility by £150m during the period, with £90m drawn as of 31 March.

Operating costs net of fee income amounted to less than 0.1% of the firm's year-end net asset value - consistent with the prior year.

Molten Ventures reported a loss after tax of £243m, swinging from a profit of £301m a year earlier.

"After a difficult 12 months for the technology industry, we are cautiously optimistic for the year ahead as markets stabilise and, in places, recover," said chief executive officer Martin Davis.

"In the year, we've continued to make strategic progress by increasing our funding flexibility and leveraging third party assets so we are well positioned to continue to invest in high-growth, disruptive technology companies.

"While market turbulence may persist, we believe that our seasoned team, active approach to portfolio management and long term, thesis-led approach to investing will be able to deliver for both shareholders and for the European entrepreneurs inventing our future."

At 1007 BST, shares in Molten Ventures were down 1.07% at 296.8p.

Reporting by Josh White for Sharecast.com.

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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.

 

Molten Ventures Market Data

Currency UK Pounds
Share Price 240.00p
Change Today 14.00p
% Change 6.19 %
52 Week High 311.80
52 Week Low 208.80
Volume 1,345,294
Shares Issued 189.05m
Market Cap £453.71m
RiskGrade 184

Molten Ventures Star Ratings

Compare performance with the sector and the market.
more star ratings
Key: vs Market vs Sector
Value
94.32% above the market average94.32% above the market average94.32% above the market average94.32% above the market average94.32% above the market average
90.65% above the sector average90.65% above the sector average90.65% above the sector average90.65% above the sector average90.65% above the sector average
Price Trend
54.38% below the market average54.38% below the market average54.38% below the market average54.38% below the market average54.38% below the market average
48.28% below the sector average48.28% below the sector average48.28% below the sector average48.28% below the sector average48.28% below the sector average
Income Not Available
Growth
17.22% above the market average17.22% above the market average17.22% above the market average17.22% above the market average17.22% above the market average
33.33% above the sector average33.33% above the sector average33.33% above the sector average33.33% above the sector average33.33% above the sector average

What The Brokers Say

Strong Buy 3
Buy 1
Neutral 1
Sell 0
Strong Sell 0
Total 5
buy
Broker recommendations should not be taken as investment advice, and are provided by the authorised brokers listed on this page.

Molten Ventures Dividends

No dividends found

Trades for 23-Apr-2024

Time Volume / Share Price
16:35 81,813 @ 240.00p
16:35 802 @ 240.00p
16:35 174 @ 240.00p
16:35 220 @ 240.00p
16:35 330 @ 240.00p

Molten Ventures Key Personnel

CFO Benjamin David Wilkinson

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