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Interim Results

3i Infrastructure sees good progress

03 November 2016 07:30

3i Infrastructure reports a total return of £73.8 million for the six months to the end of September or 5.0% of opening net asset value.

It says this is a good result in the context of the company's return target of 8% to 10% per annum, to be achieved over the medium term The European portfolio continued to perform well both financially and operationally.

Four new investments, for a total consideration of £287 million, were completed during the period: WIG, TCR, Valorem and the Hart van Zuid PPP Project. These investments further diversify the portfolio and have used a substantial part of the capital raised in June 2016.

The group says an interim dividend of 3.775 pence per share will be distributed on 9 January and it is on track to deliver the full year target distribution of 7.55 pence per share, representing growth of over 4% on FY2016.

Chairman Richard Laing said: "The Company has had a productive first half. In a competitive market, we completed four new investments for a total consideration of £287 million and executed a successful capital raise. The Company's portfolio continues to deliver income in line with expectations. Supported by our outlook for the portfolio, including the new investments completed in the period, we remain on track to deliver a full year dividend for FY2017 of 7.55 pence per share."

Story provided by StockMarketWire.com

Related Company: 3IN

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