Unicorn AIM VCT PLC on Friday said its net asset value declined over the course of its financial year, despite perking up from where it stood at the end of the first-half.

Net asset value per share at September 30 amounted to 104.7 pence, declining 15% from 122.6p a year prior. It rose 1.1% from 103.6p at the March 31 half-year end, however.

The venture capital trust largely backing AIM traded firms swung to a pretax profit of £625,000 during the year that ended September 30, from a loss of £10.6 million the year before.

The firm slimmed its net unrealised losses on investments to £3.3 million from £9.0 million last year, while its net gains on the realisation of its investments jumped to £5.7 million from £994,000.

Net asset value total return, after adding back dividends of 18.2p paid throughout the year, was 0.3%. This compared to a rise of 3.9% on the FTSE AIM All-Share Total Return Index.

Unicorn AIM proposed a final dividend of 3.5p per share, unchanged from last year, as well as a special dividend of 6.0p per share.

This follows a special dividend payment of 11.7p per share earlier in the year, following the firm’s disposal of its Abcam PLC interest to Danaher Corp for net proceeds of £20.3 million.

Chair Tim Woodcock said: ‘Although near-term headwinds persist, the board remains cautiously optimistic about the outlook. The company’s strategic positioning within high-growth sectors, combined with an expanding pipeline of investment opportunities, places it in a strong position to capture any recovery in market value and deliver meaningful capital growth for shareholders.’

Shares in Unicorn AIM VCT were flat at 93.00 pence each in London on Friday morning.

Last week Wednesday, the firm said it plans an offer for subscription to raise £20 million, with an over-allotment facility to raise up to a further £5 million.

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