14th Sep 2022 10:57
(Alliance News) - Digital 9 Infrastructure PLC on Wednesday said it had improved net asset value per share in its half-year results, but earnings per share were significantly lower.
The London-based investment fund focused on digital infrastructure reported an IFRS net asset value in June of GBP852.3 million, a 13% increase on the GBP755.9 million recorded in December 2021.
Net asset value per share stood at 105.13 pence in June, up 0.5% from 104.62p in December 2021 and up 1.7% from 103.34p in June 2021.
The company said that this was driven by growth in the underlying valuation of its investments.
Pretax profit for the period was GBP27.4 million, a 64% improvement on the GBP16.7 million recorded last year.
This was the result of income received from investments, as well as revaluation gains from the investments.
The company declared an interim dividend of 1.5 pence for the April to June period, keeping it in line with the full-year target of 6.0p.
However, earnings per share fell to 3.43 pence against the 9.77p recorded in December last year.
In a challenging environment, the company noted that 69% of the total recurring revenue from its portfolio of investments have some form of inflation protection, including 58% with uncapped CPI/RPI linkage.
Chair Phil Jordan commented: "The digital transformation of our societies has been evident over the last few decades, but no more so than in the last two years. The Covid-19 pandemic dramatically accelerated the key drivers and trends already fundamental to the growth in demand for Digital Infrastructure.
"I believe that, as a result of these societal shifts and the clear and urgent global requirement to grow in an environmentally sustainable way, we are at the dawn of a much broader transformation which supports the long-term investment case of the company and provides the board with confidence in its future prospects."
Shares in Digital 9 Infrastructure were trading 0.7% lower at 115.56 pence each in London on Wednesday morning.
By Chris Dorrell; [email protected]
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