Strong returns and earnings growth at its portfolio companies boosted results at HgCapital Trust in the first six months of the year, marking a recovery for the firm after a difficult first half last year.

Net asset value for the trust, which is the FTSE All Share-listed arm of mid-market buyout firm HgCapital, stood at £12.18 per share at June 30, up from £11.80 per share at the beginning of the year, according to its interim results statement. This represents an increase of 5.8% after allowing for payment of a 29 pence per share dividend, and compares with NAV of £11.73 per share a year earlier.