14th Nov 2019 08:59
(Alliance News) - 3i Group PLC on Thursday reported an increased total return for the first half of its year and said it "saw a good performance" across its portfolios.
The private equity and infrastructure investment company for the six months to September 30 reported a total return of GBP767.0 million, a 10% increase from GBP728.0 million a year ago.
Its net asset value per share was 873 pence, up 13% from 776p a year ago.
3i Group raised the first half dividend to 17.5p per share from 15p a year ago.
The company reported "good performance" across its portfolios, with the Private Equity portfolio recording a gross investment return of GBP666.0 million, driven by assets including Action, Hans Anders, and Aspen Pumps.
A good contribution was also reported from the Infrastructure business, with a gross investment return of GBP88.0 million. Meanwhile, European ferry operator Scandlines delivered a gross investment return of GBP44 million in the period, driven by a good trading performance.
Simon Borrows, chief executive, said: "We saw good performance across our portfolios in the first half of the year, reflected in an attractive total return of 10% for our shareholders."
"Despite the uncertain macroeconomic environment, the majority of our investments have moved into the second half of the year with decent momentum," Borrows said.
3i Group shares were down 5.6% in London at 1,062.05 pence each on Thursday.
By Loreta Juodagalvyte; [email protected]
Copyright 2019 Alliance News Limited. All Rights Reserved.
Related Shares:
3i Group