o Revenue down 12% underlying o Cash operating income² down 13% underlying; 11% margin o Adjusted³ operating profit down 19% underlying; 9% margin o Adjusted profit before tax down 20% underlying o Adjusted EPS up 12% · Interim dividend increased +1% to 7.6p · Statutory · Active portfolio management strategy delivering value creation: o Increased investment in Cazoo in October 2020; proposed transaction values stake at c.US$1.35bn
5 vs £117m total investment o Disposal of EdTech (Hobsons) for c.US$410m in March 2021 o Acquisition of New Scientist for £67m in March 2021 · Strong financial position maintained: pro forma net cash £293m
6 and £362m of committed undrawn bank facilities; statutory net cash £199m
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.
PIF Unit Jada Invests in Oryx Fund swfinstitute.org - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from swfinstitute.org Daily Mail and Mail on Sunday newspapers.