Bailiwick Investments Limited, which invests in local businesses, has returned another strong set of results for 2021 despite the ongoing global economic challenges.
Each investment within Bailiwick’s portfolio either outperformed or equalled its 2020 valuation, resulting in a total net gain of £16.9m for the year and bringing net assets as at 31st December 2021 to £88.4m.
“The board is delighted with the performance of the portfolio in 2021 and is 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 chairman Sir Geoffrey Rowland (pictured).
“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.”
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 slight decrease in NAV from the December figure is 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.
Bailiwick Investments say that responsible investment is at the heart of their 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.
Most recently, Bailiwick invested £2m in Proviz, a multi-award winning cycling, running and outdoor sportswear specialist. 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.
Bailiwick’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.
