Mercia has delivered a positive set of interims in line with our expectations. Underlying performance is strong, reflecting continued organic growth and a full period contribution from fully integrated FDC. Net asset value metrics were unchanged with a small fair value reduction (£1.6m) despite continued positive progress. Post-period end, Mercia realised nDreams generating £26m cash; part of this is being returned via a £5m share buyback, complementing the interim dividend (+6%). We leave earni ....
