Gimv: shares shine after 'excellent' half-year result

(CercleFinance.com) - Belgian investment group Gimv reported "excellent" half-year results thanks to the growth of its portfolio, even though net profit fell slightly over the period.


Net result for the first half of the 2018-2019 financial year, from 1 April to 30 September, came in at 62.5 million euros, almost in line with the 62.6 million euros a year ago.

"The past six months were marked by further portfolio growth," said managing director Koen Dejonckheere.

"In the first six months of the financial year our portfolio companies again grew nicely, in terms of both turnover and profitability," he added.

In the first half 2018-2019, Gimv made 60.9 million of investments through stakes in Ellis Gourmet Burger (Belgium), Laser 2000 (Germany), and One of A Kind Technologies (Netherlands).

Over the period, Gimv sold its shareholdings in ActivePath (Israel), ARS (Netherlands) and Europlasma (Belgium).

Its total portfolio is now worth 999.4 million euros, compared with 960.4 million euros at 31 March 2018.

The Gimv share is currently up 2.2% on Euronext Brussels after these results.

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