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Prices & Quotes - UK Markets - Intermediate Capital Group (ICP)

Risk Warning The value of investments can fall as well as rise and any income from them is not guaranteed and you may get back less than you invested. Past performance is not a guide to future performance.

Share Price:
Up 1,641.00p
Change Today:
5.00p
Market Cap:
4,827.56m
Sector:
Financial Services

Intermediate Capital profit falls on investment asset losses

By Sean Farrell

Date: Thursday 04 Jun 2020

LONDON (ShareCast) - (Sharecast News) - Intermediate Capital's annual profit fell by more than a third as the value of investment assets was hit by the Covid-19 crisis.
Pretax profit for the year to the end of March fell 37% to 114.5m from a year earlier as assets under management rose 22% to €45.3bn (40bn). The company increased its final dividend by 2% to 35.8p taking the annual payout to 50.8p - up 13%.

Profit at Intermediate's fund management company rose 27% to 183.1m as it attracted €10.2bn of new funds but its investment company swung to a 68.6m loss from a profit of 39.1m.

Intermediate said the investment company loss was the caused by net unrealised losses on assets of 152.4m in the final quarter, caused by the Covid-19 market disruption. The FTSE 250 group said these losses did not lead to cash outflows and that it was not forced to sell investments to increase liquidity.

"Despite the impact of the Covid-19 pandemic on the latter part of our fiscal year, we continue to drive long-term value creation for our shareholders," Intermediate Chief Executive Benoit Durteste said.

"We expect lower fundraising and investment activity in the short term, but our market fundamentals remain strong, our exposure to the most affected sectors is limited, and we are working closely with all our investments and portfolio companies to help them adapt to this new environment."

Intermediate said it had 1.2bn of liquidity at the year end and that the annual dividend was in line with its progressive payout policy. The company's shares fell 5.7% to 13.07 at 15:29 BST.

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ICP Market Data

Currency UK Pounds
Price 1,641.00p
Change Today 5.00p
52 Week High 1,877.00p
52 Week Low 559.50p
Volume 282,143
Shares Issued 294.18m
Market Cap 4,827.56m

Performance Indicators

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What The Brokers Say

Strong Buy 8
Buy 1
Neutral 1
Sell 0
Strong Sell 1
Total 11
strong_buy
Broker recommendations should not be taken as investment advice, and are provided by the authorised brokers listed on this page.

ICP Dividends

  Latest Previous
  Interim Final
Ex-Div 10-Dec-20 18-Jun-20
Paid 08-Jan-21 05-Aug-20
Amount 17.00p 35.80p

Trades for 01-Dec-2020

Time Volume / Share Price
14:37 9 @ 1,641.00p
14:37 96 @ 1,641.00p
14:37 252 @ 1,641.00p
14:37 38 @ 1,641.00p
14:37 178 @ 1,641.00p

ICP Key Personnel

CEO Benoit Durteste
Chair Davies of Abersoch