Bridgepoint boasts success despite economic challenges and announces solid first half of 2022 

Shares in private growth investor Bridgepoint surged today after it shrugged off recessionary fears to post a jump in pre-tax profits for the first half of the year.

The FTSE-250 firm said revenues topped £140.1m in the six months to the end of June, up from £122.2m in the same period last year, as underlying pre-tax profits jumped to £51.9m from £42.3m .

Assets under management climbed to €37.1bn, bosses said, bucking the slowdown that has rocked public markets this year and sparked outflows from equity funds.

Shares in the firm were the fastest risers on the FTSE-250 this morning, jumping over 11 per cent before settling to trade up around five per cent.

Chair William Jackson said it had been a half of “strong progress” despite a “much more volatile market backdrop than expected”.

“Bridgepoint has delivered continued growth in profits in the half-year, reflecting the strength of our middle market business model,” he said.

“Every Bridgepoint fund is deliberately diversified by year, sector and geography.”

Bosses warned the firm would not be immune to macroeconomic headwinds that are set to batter the global economy in the second half of the year however.

“We expect market volatility and inflation pressures to continue and have positioned our investment activity accordingly. We will not be immune to macroeconomic events, but we are excited by the strategic growth prospects for the Group,” the company said.