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Trading statements

3i Infrastructure portfolio continues to perform well

02 February 2016 08:22

3i Infrastructure says its portfolio continues to perform well and generated income of GBP14.5 million for the three months to the end of December.

This included GBP2.9 million from the company's recent investments in ESVAGT and the West of Duddon Sands Offshore Transmission Owner project. Total portfolio income for the nine months to 31 December was GBP41.6 million. This compares to GBP60.9 million for the nine months to 31 December 2014, which included GBP27.1 million of income received from Eversholt Rail, which was sold in April 2015.

The company says the investment adviser continues to see good development in its pipeline of investment opportunities across the company's key target markets in economic infrastructure businesses and primary PPP and low-risk energy projects.

The company says it continues to manage its balance sheet efficiently and has cash balances of GBP40.3 million (after the interim dividend payment), and an undrawn facility of GBP284 million available for new investment.

Chairman Richard Laing said: "The portfolio continues to perform well, delivering good levels of income. Supported by the Company's recent investments, and the pipeline of opportunities that the Investment Adviser continues to develop, the outlook for the Company remains positive. The company is on track to deliver a full year dividend for FY2016 of 7.25 pence per share and to grow this progressively beyond FY2016."

At 8:22am: (LON:3IN) 3i Infrastructure Ltd share price was +0.5p at 171.3p

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