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Annual Results

3i Infrastructure hits target in competitive market

11 May 2017 08:11

3i Infrastructure delivered its target dividend of 7.55 pence per share for the year to the end of March following a strong performance in a competitive market.

The company generated a total return of £146m for the year, or 9.4% of opening NAV (adjusted on a time weighted average basis for the capital raise), in line with the target of 8% to 10% per annum to be achieved over the medium term.

The NAV per share increased to 169 pence.

The group said it delivered a total shareholder return of 16.1% in the period (FTSE 250: 15.3%).

Since IPO, the company said the annualised TSR was 11.6% which, it said, compared favourably with the broader market (FTSE 250: 7.9% annualised over the same period).

The company said it achieved this performance with relatively low share price volatility.

Chairman Richard Laing said: "The company has had a strong year. In a competitive market, we completed six new investments totalling £479m and executed a successful capital raise.

"We have delivered our target dividend of 7.55 pence per share for the year." 3i Investments managing partner, infrastructure, Phil White, said: "We successfully deployed all of the proceeds from the capital raise, further enhancing the quality and diversity in our portfolio.

"The new investments, along with the existing portfolio, are performing well, driving growth in NAV and the continued progression of the company's income during the year.

"We continue to see a good flow of new investment opportunities, but we remain disciplined to invest selectively and focused on maintaining a balanced and attractive portfolio for shareholders."

At 8:11am: (LON:3IN) 3i Infrastructure Ltd share price was +0.35p at 194.35p

Story provided by StockMarketWire.com

Related Company: 3IN

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