CVC Capital reports profit rise in first results as public company

Private equity group CVC reported an increase in half-year profit on Thursday and said it expected margins to expand in the second half of 2024, in its first set of earnings since floating on the Amsterdam stock exchange in April.

CVC reported adjusted after-tax profit of 340 million euros ($377 million) for the six months to June, up 16% from 292 million the prior year.

The company's total assets under management jumped to 193.3 billion euros, up from 177.3 billion, as it had previously disclosed in August.

The company's move to go public has helped reboot Europe's market for initial public offerings this year, along with new offerings from Swiss skincare firm Galderma and Spanish fashion company Puig.