Molten Ventures has reported its latest half-year results.

The listed investor said total return – that is, net asset value plus the cumulative dividends paid out per share – was 160.3 pence for the six months ended 30th September 2025, compared with 160.8p in the prior year.

“We are reasonably sanguine about the Chancellor’s announcement in the Budget (as we understand it),” it said. “Whereas the Chancellor announced the reduction in VCT upfront income tax relief from 30% to 20%, that is not to have effect until April 2026. Until then 30% relief remains.”