Electra sees NAV rise 15% driven by investments

UK firm Electra Private Equity saw its shares rise after reporting a "record level of investment" for the full year.

The group's net asset value (NAV) rose 15% to 3,174p due to a strong performance from its portfolio, while profits before tax increased to £166m from £123m.

Electra invested £410m during the year, compared to £337m in 2013, seeing a 25% return from those investments.

Earning per share also increased in 2014 to 457.66p from 321.56, but cash and equivalents declined to £198m from £207m.

Hugh Mumford, managing partner of Electra Partners, said: "Trading conditions across the portfolio as a whole have strengthened allowing its prospects to be viewed with confidence.

"The 25% total return from the investment portfolio over the year reflects the quality and pricing of the deals done over recent years as well as the success of our strategies for generating returns."

Shares were up 4.15% to 2686p at 09:41 on Thursday.