Interim results for the six months ended 31 July 2026

ICGT's Portfolio demonstrated the resilient growth we seek against a volatile market backdrop.

Highlights

  • Six-month period demonstrating growth across multiple investment areas, positive net Portfolio cashflow and selective investment
  • NAV per Share of 2,091p at 31 July 2026. HY NAV per Share Total Return of 3.3% and 5-year annualised return of 8.4%
  • Portfolio Return on a Sterling Basis of 3.6% over the six months, driven by Directs
  • Portfolio reporting LTM revenue growth of 11% and EBITDA growth of 16%1
  • Total Proceeds of £84m, of which £32m came from exits of two of our top 30 companies (Curium, Yudo). A further ~£70m of proceeds expected to be received in coming quarters from two further large exits (Exail, Ambassador Theatre Group)
  • 24 Full Exits at a weighted-average Multiple of Cost of 3.0x and Uplift to Carrying Value of 9.4%
  • Continuing to invest selectively: Total New Investments of £65m and New Fund Commitments of £104m
  • £20m buybacks executed in H1, increasing NAV per Share by 14.9p (0.7%). Q2 dividend of 9.5p per share; Board intention remains to pay total FY27 dividends of at least 42p per share (FY26: 39p)

1 EBITDA, based on Enlarged Perimeter covering 69% of the Portfolio

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