Pollen Street Group (LON:POLN) Releases Earnings Results

Pollen Street Group (LON:POLN) issued its quarterly earnings data on Tuesday. The company reported GBX 33.30 earnings per share (EPS) for the quarter, Digital Look Earnings reports. Pollen Street Group had a return on equity of 8.17% and a net margin of 47.90%.

Here are the key takeaways from Pollen Street Group’s conference call:

• Assets under management rose to £8.5 billion, while fee-paying AUM increased 18% to £5.5 billion. The £1.8 billion of raised but undeployed credit capital provides visibility for further fee-paying growth.
• Fund management revenue increased 22% on a like-for-like basis, and fund management EBITDA rose 73% to £16.1 million. Management said the asset manager remains on track to meet full-year consensus expectations.
• Private Credit Fund IV is nearly 50% deployed, with the credit pipeline doubling to £5 billion in the first half. The company said deployment momentum, borrower demand and resilient pricing remain strong despite changing macro conditions.
• The investment company’s return was only 3.4%, materially below target, primarily because the Shawbrook share-price decline created a 3.8% balance-sheet impact after its IPO-related mark-to-market accounting. Management characterized this as an exceptional issue, citing an underlying first-half investment return of 7.4% excluding Shawbrook and equalization effects.
• Pollen Street returned £25 million to shareholders in the first half, including £7 million of buybacks, and announced a further £17 million interim dividend. It also reported strong early support for the Hanover Square open-ended credit fund and expects to launch preparations for Private Equity Fund VI, targeted at €1.75 billion–€2 billion.

Pollen Street Group Stock Up 0.8%

Shares of Pollen Street Group stock traded up GBX 6.83 during trading hours on Friday, hitting GBX 825.83. The company’s stock had a trading volume of 204,677 shares, compared to its average volume of 258,721. The business has a fifty day moving average of GBX 847.79 and a 200 day moving average of GBX 833.44. Pollen Street Group has a 1-year low of GBX 690 and a 1-year high of GBX 972. The company has a market capitalization of £488.08 million, a PE ratio of 8.81 and a beta of 0.02.

Wall Street Analysts Forecast Growth

Separately, Berenberg Bank reaffirmed a “buy” rating and issued a GBX 1,320 price objective on shares of Pollen Street Group in a report on Wednesday. Three analysts have rated the stock with a Buy rating, Based on data from MarketBeat.com, Pollen Street Group currently has an average rating of “Buy” and a consensus price target of GBX 1,162.

About Pollen Street Group

Pollen Street was founded in 2013. It is a listed alternative asset manager dedicated to the financial and business services sectors. Pollen Street has complementary activities in managing third-party assets (as an asset manager) and on-balance sheet investments (as an investment company), delivering growth through dedicated private equity and credit strategies.