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Investegate |Daily Mail & General Announcements | Daily Mail & General: Half Year 2021 Results


 
 
 

Revenue down 12% underlying

Cash operating income² down 13% underlying; 11% margin

Adjusted³ operating profit down 19% underlying; 9% margin

Adjusted profit before tax down 20% underlying

Adjusted EPS up 12%
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Interim dividend increased +1% to 7.6p
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Statutory
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Active portfolio management strategy delivering value creation:

Increased investment in Cazoo in October 2020; proposed transaction values stake at c.US$1.35bn
5 vs £117m total investment

Disposal of EdTech (Hobsons) for c.US$410m in March 2021

Acquisition of New Scientist for £67m in March 2021
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Strong financial position maintained: pro forma net cash £293m
6 and £362m of committed undrawn ....

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Saudi Arabia's PIF bets on startups with Hambro Perks Investment


RIYADH: Saudi Arabia’s sovereign wealth fund is backing a Middle East venture-capital fund run by Hambro Perks Ltd., joining the trend for state investors in the region to put money into early-stage companies, according to Al Arabiya citing Bloomberg.
The Public Investment Fund (PIF) of Saudi Arabia is an anchor investor in the $50 million Oryx Fund, which will target fintech, health and education technology startups across the Middle East and North Africa (MENA), according to Dominic Perks, co-founder of London-based venture firm Hambro Perks.
Oryx is the first Western venture-capital fund to get backing from PIF, which made the investment through its Jada unit, according to a statement from Hambro Perks. Other investors include Saudi Venture Capital Co. and Riyadh Valley Co. ....

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