Mercia announces Interim Results FY2024

Mercia Asset Management PLC is pleased to announce its interim results for the six months ended 30 September 2023.

Mark Payton, Chief Executive Officer of Mercia, commented:

“Mercia has never been financially stronger. The first six months of FY24 have witnessed record revenues derived predominantly from Mercia’s profitable and cash generative third-party fund management operations. Mercia is now firmly established as a leading provider of private capital across venture, debt and private equity in the UK within the £0.5million to £20million range, with further attractive growth prospects across all of these discrete strategic asset classes.

“The Group’s recent successful exit from its largest direct investment, nDreams, has materially increased Mercia’s debt-free liquidity position to c.£60million today. We are therefore pleased to announce a share buyback of up to £5.0million.”


    • Group AuM of £1,461.8million (H1 2023: £979.4million; FY 2023: £1,437.3million); an increase of 1.7% with no redemptions
    • Revenue up c.23% to £15.0million (H1 2023: £12.2million)
    • EBITDA up c.33% to £2.8million (H1 2023: £2.1million)
    • Adjusted operating profit up c.54% to £5.5million (H1 2023: £3.6million)
    • Direct investment portfolio fair value of £142.5million (FY 2023: £136.6million)
    • Profit before taxation of £1.4million (H1 2023: £7.4million)
    • Interim dividend up c.6% to 0.35 pence per share (H1 2023: 0.33 pence per share)
    • Strong balance sheet with cash, cash equivalents and short-term liquidity investments of £36.5million as at 30 September 2023 (H1 2023: £56.1million; FY 2023: £37.8million), increased post period end to c.£60million following the sale of nDreams
    • Net assets per share of 45.3 pence (H1 2023: 46.8 pence; FY 2023: 45.4 pence)

Read the full Interim Results here