Audited Results For The Year Ended 31 August 2022
Capital for Colleagues plc / EPIC: CFCP / Market: AQSE / Sector: Financials
20 December 2022
CAPITAL FOR COLLEAGUES PLC
(‘Capital for Colleagues’, ‘C4C’ or the ‘Company’)
AUDITED RESULTS FOR THE YEAR ENDED 31 AUGUST 2022
Capital for Colleagues, the investment vehicle focused on opportunities in the Employee Owned Business (‘EOB’) sector, is pleased to announce its audited results for the year ended 31 August 2022.
CHIEF EXECUTIVE’S REPORT FOR THE YEAR ENDED 31 AUGUST 2022
I am pleased to report on another year of solid progress for C4C against a difficult economic background. The well-documented headwinds of rising costs, a tight labour market and shortages of materials have provided challenges for a number of our investee companies. However, the valuations of several of our investments have increased meaningfully during the year under review on the back of robust financial progress. We are convinced that the culture engendered by employee ownership and high levels of employee engagement has been a major factor behind the robust performance of our investment portfolio during these difficult times.
During the year to 31 August 2022, the Net Asset Value per share (NAV) rose by 6.9% to 74.49p (2021: 69.71p). In addition, a dividend of 1.5p per share was paid in March 2022.
The strong trading performance of several companies in the portfolio resulted in net unrealised revaluation gains of £1.142m (2021: £1.293m) in addition to net realised gains on disposals of £0.395m (2021: £1.130m). It is pleasing to report that, as was the case last year, no loan impairments were required in the portfolio during the year under review.
We saw a noteworthy increase in dividend income from investee companies as our portfolio matures. Five companies in the portfolio paid a dividend compared to four in the prior year and we received dividends totalling £0.141m during the year under review, an increase of 78% on the prior year.
The Company was admitted to the AQSE Growth Market’s Apex segment, which caters for larger, more established businesses, and applies additional eligibility criteria to encourage greater transparency and liquidity.
I am pleased to note that the company’s success in recent years has been recognised by being shortlisted for ‘Aquis Company of the Year’ in both the 2022 Small Cap Awards and Shares Awards 2022 run by Shares Magazine.
For the full report please click on the PDF link below.