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Electra reports strong profits; PRIVATE EQUITY.

Electra, the private equity company that backed last year's buy-out of Birmingham's Lil-lets business, has reported strong profits.

The company said first half pre-tax profit rose to pounds 110 million to the six months to March 31, compared to pounds 101.2 million last year.

The value of its investment portfolio rose 65 per cent from a year earlier to pounds 568 million, while its net asset value to the end of March was 181 1p per share, up 17 per cent from a year earlier.

Electra chairman Sir Brian Williamson said the market for new investment remained "extremely competitive" and identifying transactions with appropriate potential was "challenging".

Electra, which acquired Lil-lets, the UK tampon market's second largest brand, in December, also owns ventilation system manufacturer, Nuaire.

Sir Brian said the level of current dealflow for Electra, which targets investments at a cost of pounds 25 million to pounds 70 million in companies with an enterprise value of pounds 70 million to pounds 200 million, was "encouraging" and it was finding suitable new investments.
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Title Annotation:Business
Publication:The Birmingham Post (England)
Date:Jun 6, 2007
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