31st Mar 2023 12:52
(Alliance News) - 3i Infrastructure PLC on Friday backed its dividend target and hailed "strong growth momentum" in its portfolio.
The infrastructure-focused investment trust said its TCR, Tampnet, Infinis, Valorem, Attero, ESVAGT and Ionisos assets saw "positive underlying growth trends" for the six months to March 30. 3i Infrastructure ended its financial year on Friday.
Portfolio firms elsewhere performed in line with expectations.
"We're confident that the portfolio will continue to generate attractive further investment opportunities," 3i Infrastructure said.
It said it is on track to deliver on its 11.15 pence dividend target for the financial year, which would be a 6.7% hike from 10.45p a year earlier.
The company added that preparation for a possible sale of its Attero asset is "at an advanced stage". Attero is a waste management firm.
"Attero is a high quality asset in the circular economy and we are expecting strong interest from potential purchasers," 3i Infrastructure said.
Shares in the company rose 0.8% to 314.50 pence each in London on Friday afternoon.
By Eric Cunha, Alliance News news editor
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