29th Aug 2024 11:16
(Alliance News) - BBGI Global Infrastructure SA on Thursday reported a sharply higher profit amid a significantly stronger income from investments, and highlighted an optimistic outlook.
The Senningerberg, Luxembourg-based infrastructure investment firm said pretax profit doubled to EUR26.4 million in the first half of 2024, from EUR13.1 million a year ago.
Notably, income from investments at fair value through profit jumped 65% to GBP35.0 million from GBP21.2 million.
Net asset value per share ticked down 0.3% to 147.4 pence as at Jun 30 from 147.8p at December 31, the latter which had been virtually unchanged from June 30, 2023.
BBGI Global declared an interim dividend of 4.20 pence per share, up 5.9% from 3.97p a year prior.
Looking ahead, the company said: "As governments continue to run deficits and the demand for upgrading and constructing new infrastructure grows globally, there is an ongoing need for private sector investment in infrastructure. With our internal management structure and a clear alignment with investors' interests, BBGI will remain patient and disciplined, transacting only when an opportunity is clearly accretive to our portfolio metrics and investor returns."
BBGI Global shares were 0.1% lower at 134.84 pence each on Thursday morning in London.
By Tom Budszus, Alliance News slot editor
Comments and questions to [email protected]
Copyright 2024 Alliance News Ltd. All Rights Reserved.