1st Oct 2013 10:33
LONDON (Alliance News) - 3i Infrastructure PLC Tuesday said its European portfolio assets have performed well, generating income of GBP30.9 million between April and September.
In a trading update, the infrastructure investment company said it made a net investment of GBP64.0 million, including a GBP61.8 million investment in Cross London Trains.
However, the performance of 3i India Infrastructure Fund was impacted by currency and other issues.
3i said the Indian rupee depreciated sharply against many currencies in the period. Specifically, it weakened by 19% against sterling, which will result in foreign exchange losses for the company.
"We estimate the impact on net asset value at the period end from these rupee foreign exchange losses will be in the region of 2.1 pence per share, compared to the position at 31 March 2013," the company said.
3i shares were trading at 131.98 pence Tuesday, down 1.22 pence or 0.9%.
By Anthony Tshibangu; [email protected]; @AnthonyAllNews
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