Mercia Asset Management PLC (AIM:MERC) told shareholders ahead of its AGM that it made a positive start to the current financial year across both its equity and debt fund portfolios including its five new British Business Bank mandates.
“We are encouraged by our deal pipelines and the Group remains well placed to continue to deploy capital across our fund portfolios, by supporting both existing portfolio companies, as well as adding new investments, as a result of our continuing significant liquidity,” said Ian Metcalfe, chair of the northern-focused UK fund manager.
"Our debt-free balance sheet cash position of over £43 million remains strong, together with its resultant yield.
“We therefore remain optimistic for continuing profitable progress across the group during the second half of the current financial year."