- Technology company investor Mercia Technologies booked a 35% rise in first-half profit after it collected more performance fees and cut expenses.

Net profit for the six months through September grew to £1.9m, as revenue increased 8.7% to £5.3m.

Net assets per share rose to 41.3p, up from 41.1p on-year.

'The commercial progress being made across the portfolio is accelerating, 'chief executive Mark Payton said.

'With Mercia's increasing scale, we are now seeing a greater number of attractive investment opportunities for our managed funds, which bodes well for the future direct investment pipeline as we seek to build a sustainable investment model.'

'We therefore remain confident in our ability to deliver strong returns for shareholders and fund investors alike over the medium term.'

At 8:04am: [LON:MERC] Mercia Technologies Plc share price was +1p at 30.5p

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