CHANNEL CAPITAL PLC ANNOUNCES AUDITED FINANCIAL RESULTS Approved for Release – June 21st 2013 – Irish Stock Exchange
– FOR USE BY PROFESSIONAL INVESTORS ONLY –
June 21st 2013, London UK – Channel Capital Plc (“CC Plc” or “the Company”) has reported year-end audited results for the year ending March 31st 2013.
Economic Profit1 amounted to $9.8 million, approximately $4.5 million ahead of plan due to improved investment earnings, lower expenses, and debt management activities. The resulting Economic Return on Investment (Economic ROI2) for 2012/13 was 18.4%. CC Plc reported IFRS profit for the year of $62.7 million, which includes a net gain on mark-to- market valuations on the portfolio credit transactions and junior debt of $60.9 million. A variable return of $8 million was paid to Junior Noteholders during the year.
|
FY ending 2009 |
FY ending 2010 |
FY ending 2011 |
FY ending 2012 |
FY ending 2013 |
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|
Economic Profits |
$9.9mio |
$12.9mio |
$17.1mio |
$11.0mio |
$9.8mio |
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|
Economic ROI |
+18.6% |
+24.4% |
+32.3% |
+20.7% |
+18.4% |
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“We are very pleased with these results and the on-going strong economic performance of the Company over the past five years”, said Walter Gontarek, CEO of Channel Capital Advisors LLP (“Channel”). “In addition, portfolio credit quality has continued to perform very well with no credit events experienced across the portfolio for over 2 years. I’d like to congratulate the entire team for their hard work in producing these results”, he added.
About Channel:
Channel, a London UK based credit asset manager authorised and regulated by the Financial Conduct Authority, was founded by a team of credit risk management professionals in 2006. Channel manages nearly $10 billion of portfolio credit transactions. Economic ROI2 for the past 5 years have averaged more than 22% per annum.
At Channel, we provide high-quality, privately originated asset-backed investment products by originating, structuring, and managing investments for leading institutional investors. We specialise in opportunities from issuers in specialty finance and the innovation economy.
For borrowers, we are a trusted partner in growth. Our expertise in structuring tailored financing solutions ensures you get the capital you need to scale, with a streamlined process and terms that work for your business. We are committed to delivering flexible, efficient, and growth-focused funding that empowers your success.
For further information, contact:
Walter Gontarek, CEO
Channel Capital Advisors LLP
walter.gontarek@channelcapital.co.uk
Tel: 44 207 291 5160
