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Bailiwick Investments Limited, which owns significant stakes in Sandpiper CI, Jacksons, the Guernsey Press and other Channel Island businesses, saw its portfolio grow by £17m last year.
The company, which is chaired by former Guernsey Bailiff Sir Geoffrey Rowland, also recently invested £2m in Proviz, a multi-award winning cycling, running and outdoor sportswear specialist founded by two Jersey brothers, Bob & Ant Langly-Smith, in 2008.
Bailiwick Investment’s net assets at the end of last year rose to £88.4m.
Sir Geoffrey said: “While cognisant that investee companies, like most businesses, are facing new economic challenges and uncertainty in the form of inflation and supply shortages, the diversity within the portfolio and the bias towards the Channel Islands should put the company and its investments in a good position to navigate these difficulties.
“As Bailiwick’s investee companies have a significant impact in our local economies, we will always welcome new shareholders who wish to invest in a range of businesses operating in Jersey, Guernsey and Alderney.”
The company’s net asset value per share increased from 133.04p to 155.24p in 2021, having paid total dividends of 5.5p in the year. The company’s shares are currently trading on The International Stock Exchange at around 140p, an 8.7% discount to the NAV per share as at 31 March of 153.29p.
The company said that the slight decrease in NAV from the December figure was “primarily due to the inevitable pressures on the prices of Bailiwick’s listed investments as a result of global market uncertainty”.
Bailiwick maintained its total annual dividend of 5.5p per share in 2021, as it did in 2020, and recently announced a dividend of 3p per share payable in June. This increases the total forecast dividend payable for 2022 to 6p per share; a 9% increase.
The company said: “Responsible investment is at the heart of Bailiwick’s investment practices and the company aims to deliver a meaningful financial return to shareholders through selecting investments in local businesses lead by strong management teams who demonstrate integrity, good governance principles and a commitment to making a positive difference to society and/or the environment.”
It added that its investment in Proviz “is expected to enable Proviz to grow its geographical presence and enhance its marketing capabilities to expand its customer base and increase sales.”
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