Focused on growth

With strong regional roots and an established track record, Mercia is a ‘one stop’ responsible financial partner contributing towards the growth of the UK economy.Dr Mark Payton, CEO, Mercia

Non-executive Chair's statement

The significant profitable and cash generative growth that we have achieved during this period has been funded entirely from our own financial resources, without dilutive recourse to shareholders or the need to borrow from third-parties. We see no need for this to change in the foreseeable future.

Ian R. Metcalfe - Non-executive Chair

CEO's review

Whilst the sector that we operate in has generally seen liquidity pressures and material reductions in portfolio values, we see an opportunity during this current financial year to increase our investment activity by taking advantage of our strong, unrestricted liquidity of c.£378million across the Group.

Dr Mark Payton, CEO, Mercia Asset Management

Mercia by numbers

£ 1.4 bn

Group AuM (FY22: c.£959m)

45.4 pence

NAV/share (FY22: 45.6p)

c.£ 165 m

Capital deployed (FY22: c.£124m)

c.£ 71 m

Cash realised (FY22: c.£155m)

£ 25.9 m

Group revenue (FY22: £23.2m)

0.53 p/share

Proposed final dividend (FY22: 0.50p/share)

£ 7.6 m

Adjusted operating profit (FY22: £8.4m)

£ 37.8 m

Cash* (FY22: £61.3m)

* Including short-term liquidity investments

Shared success with Frontier Development Capital

Mercia has long been a business we’ve admired. Our shared passion for helping some of the UK’s most exciting SMEs to thrive through supportive capital, made Mercia the natural partner of choice for us as we look to continue the growth we have experienced since launching in 2016.

Sue Summers, CEO, Frontier Development Capital

Invincibles Studio

Global fantasy football games developer

We sit down with Co-founder and CEO, Chris Gore, and CFO, Max Lowe, about the growth of one of the world’s favourite fantasy football sim.

nDreams

The growth of virtual reality

Mercia TV sits down with nDreams CEO and Founder, Patrick O’Luanaigh, where he tells us all about the inception of the company, what it was like producing the incredible Ghostbusters VR, its expansion, the current VR market and what the future has in store for the Farnborough-based company.

Medherant

Developing innovative transdermal drug delivery patches for women’s health

 

Medherant announced in April that it has raised £2.9m of new funding from investors in a financing round led by Mercia Asset Management.

Watch as CEO, John Burt and Dr Gabit Nurumbetov talk through its bespoke transdermal drug delivery patches and how the funding is being used to progress development of a testosterone transdermal patch for post-menopausal women into clinical development.

Pimberly

The world’s most powerful PIM platform

Founder and CEO, Martin Balaam and VP Operations, Mike Walker, talk to Mercia TV about how Pimberly‘s platform has become the ‘go-to’ Product Information Management (PIM) platform on the planet, with clients including JD Sports, Harvey Nichols and Monsoon.

Mercia's ESG - who makes it happen

Value-based support from across Mercia

We have set out key considerations and documented our EGS reporting baselines. These are not arbitrary targets simply to be ticked off a list, but fundamental principles that we must adopt to drive behaviours.
The ESG arena continues to be subject to rapid change which is why we have adopted regular responsible investment committee meetings. The committee is made up of employees from across the business representing a range of business functions, seniorities and backgrounds and it is this team which help to drive our strategy and initiatives.

We recognise that we operate in an industry where much more can be done, we feel it is our responsibility to push the boundaries on what can be achieved. This is why Mercia has gone further and, in 2023, we added a core value of ‘responsible’ – a belief and principle that guides and influences all of our behaviours, decisions and actions.

Alice Grieve, ESG Lead and Compliance Manager, Mercia
Dr Mark Payton, CEO
Alison Dwyer, Head of Marketing and Communications
James Sly, Finance Director
Alex Gwyther, Investment Manager
Rebecca Pickering, Investment Manager
Lisa Ward, Head of Portfolio Talent
Sandy Reid, Deputy Fund Principal
Nigel Owen, Portfolio Director
Gina Hood, Operations Manager & Assistant Company Secretary
Adam Watts, Investment Manager
Grace Drohan, Senior Legal Counsel
Jack Glonek, Investment Director
Dr Natalia Blagburn, Portfolio Director
Paula Haigh, Executive Assistant
Michelle Heaselgrave, Head of People, Talent and Workspace

Preliminary results presentation FY23

Mercia’s hybrid model, which combines profitable FuM with maturing balance sheet investment, is proven to work in both good times and during challenging conditions.Dr Mark Payton, Chief Executive Officer

Annual Report 2023

These results demonstrate Mercia’s robust business fundamentals, during a year of significant market and economic instability.

– Martin Glanfield, Chief Financial Officer