Bailiwick Investments Limited reports net gain of nearly £17m.

Monday 30 May 2022

Bailiwick Investments Limited has reported a total net gain of £16.9million for 2021 despite ongoing global economic challenges.

The company, which invests in local businesses, saw each investment within its portfolio either outperform or equal its 2020 valuation, brining net assets as at 31 December 2021 to £88.4m.

Chairman Sir Geoffrey Rowland said the board was delighted with the performance of the portfolio. 

"We are confident that the company’s shareholders, the majority of whom reside in the Channel Islands, will be equally happy with the way in which Bailiwick’s investee companies have prospered in the year," said Sir Geoffrey.

"Whilst 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."

Pictured: Most of the shareholders of Bailiwick Investments Limited are Channel Islands residents.

The company’s net asset value per share increased from 133.04p to 155.24p in 2021. 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 slight decrease in NAV from the December figure is primarily due to the pressure on the prices of Bailiwick’s listed investments as a result of global market uncertainty.

The company 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.

Bailiwick Investments said that responsible investment is at the heart of its practices and the company aims to deliver a meaningful financial return to shareholders by selecting investments in local businesses led by strong management teams which demonstrate integrity, good governance principles and a commitment to making a positive difference to society and/or the environment.

Most recently, the company invested £2m. in Proviz, a multi-award winning cycling, running and outdoor sportswear specialist renowned for style, innovation and quality. Distributed in 40 countries and sold online globally, Proviz is acknowledged as one of the most innovative sports brands in the world. The Jersey company was founded in 2008 by two brothers who identified a gap in the market to provide highly innovative, light emitting and reflective cycling products. 

The Company's investment is expected to enable Proviz to grow its geographical presence and enhance its marketing capabilities to expand its customer base and increase sales.