25th Nov 2020 10:48
(Alliance News) - HICL Infrastructure PLC on Wednesday said its net assets grew in the first half of its current financial year.
The FTSE 250-listed infrastructure investment company reported solid performance in the six months to the end of September, with net asset value per share growth to 154.0 pence per share from 152.3p recorded at the end of March.
Three acquisitions completed in the half-year, HICL said. The valuation of the portfolio on an investment basis as at September 30 was GBP3.07 billion versus GBP2.89 billion on March 31, and GBP2.98 billion and GBP2.84 billion, respectively, on an IFRS basis.
The company is on track to deliver aggregate target dividends of 8.25p per share for the current financial year ending March 2021, it said.
Going forward, HICL said core infrastructure remains highly attractive to institutional investors seeking income, particularly during the current market turmoil, and this has benefited asset valuations.
The company reported pretax profit of GBP104.1 million for the six months to September 30, widening 31% from GBP79.5 million posted a year earlier, as income grew to GBP121.9 million from GBP97.9 million.
HICL shares were trading 0.4% higher in London on Wednesday at 170.60p each.
By Evelina Grecenko; [email protected]
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