24th Jul 2015 08:09
LONDON (Alliance News) - HICL Infrastructure Co Ltd on Friday said it remains positive about its prospects despite the competitive environment for infrastructure assets in the UK.
"We continue to seek value for shareholders by actively managing the assets in our investment portfolio, and by making off-market, relationship-based acquisitions. In the period, we also made a small disposal; initiated as the board believed that the price offered was exceptional and the proceeds could be reinvested to achieve a better return," said HICL Chairman Graham Picken.
Picken added that, as had been expected, the UK market for the type of infrastructure investments the company is seeking to make was competitive in the period from April 1 to July 23, with the shortage of supply feeding into pricing.
HICL reaffirmed its dividend target for the year of 7.45 pence per share and remains positive on the prospects for its portfolio, both through making acquisitions both in the UK and overseas.
Since April 1, the company has invested or committed an aggregate GBP103.8 million in the acquisition of incremental stakes and one new investment.
HICL also confirmed on Friday that Ian Russell is to replace Picken as the chairman of the company, with effect from March 1, 2016.
HICL shares were flat at 155.00 pence on Friday.
By Sam Unsted; [email protected]; @SamUAtAlliance
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