Chrysalis Investments Delivers Strong Quarterly NAV Growth
Why we think this is good
The RNS announcement from Chrysalis Investments Limited indicates a strong performance across its portfolio, with a 13.7% increase in NAV per share. Key highlights include the continued profitability of Starling Bank, the successful sale of InfoSum, and the growth of Starling's Banking-as-a-Service platform. The company also reported a healthy net cash position and conducted a share buyback program, which are positive developments for shareholders. While the results are encouraging, the RNS does not contain an explicit profit upgrade or a statement about trading significantly ahead of market expectations, so the maximum sentiment score that can be assigned is 'GOOD'.
Key Points
- NAV per share increased by 13.7% to 173.57 pence
- Starling Bank maintained strong profitability, with PBT of £290 million on a run-rate basis
- Chrysalis received £49.8 million from the sale of InfoSum to WPP
- The company bought back approximately 19 million shares, resulting in NAV per share accretion
- Chrysalis maintains a net cash position of £73 million
Summary
Chrysalis Investments Limited has reported a strong quarterly performance, with its unaudited net asset value (NAV) per ordinary share increasing by 13.7% to 173.57 pence as of 30 June 2025. The portfolio companies, including Starling Bank, Klarna, and Smart Pension, continued to deliver robust results, driving the increase in NAV. Chrysalis also received £49.8 million from the sale of InfoSum to WPP and bought back approximately 19 million shares, resulting in NAV per share accretion. The company maintains a net cash position of £73 million, providing financial flexibility.