Another strong performance from B.P. Marsh with the NAV at 31 July increasing to £73.8m (+4.3%) or 253p/share (31 July 2015: 225p and 31 Jan 2016: 243p). The underlying portfolio of businesses has maintained its strong performance with post tax profit at £4.0m (+20%). With an average annual compound NAV growth rate of 11.3% since 1990 and a 1.9% dividend yield we believe that a target price based on a 12.5% discount to NAV is realistic and achievable on a 12 month view. We consequ ....