By Xavier Fontdegloria
Augmentum Fintech PLC on Monday reported an increase in pretax profit for the first half of fiscal 2022 on valuation gains of its investment portfolio.
The U.K. venture-capital investor focused on fintech posted a pretax profit of 30.5 million pounds ($41 million) for the six months ended Sept. 30 compared with a pretax profit of GBP3.7 million in the same period a year earlier.
The company said gains on investments held at fair value increased to GBP25.8 million from GBP2.7 million a year before.
Overall net asset value increased to GBP267.3 million from GBP183.2 million as of March 31, it said, while its net asset value per share increased to 142.1 pence after performance fees from 130.4 pence six months ago.
Augmentum Fintech said it has invested GBP35.6 million across six new companies during the first half of fiscal 2022, and that activity in the European fintech sector is at unprecedented levels. “We are seeing this in our dealflow pipeline, where we continue to see growth in the number of opportunities and, in many instances, the valuation expectations attached to them,” the company said.
Write to Xavier Fontdegloria at xavier.fontdegloria@wsj.com
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