30th Sep 2022 12:12
3i Infrastructure PLC - infrastructure investment company - Says for period from April 1 to September 29, portfolio outperforms expectations. Cash exceeds GBP98 million in the period. Between October 1, 2021 and March 31, income was in line with expectations at GBP86 million.
Further, "We expect to report growth in net asset value ahead of the company's target return for the period," 3i Infrastructure states.
Company highlights Brussels-based TCR Group Ltd, which according to 3i Infrastructure, is "Europe's largest independent asset manager of airport ground support equipment," operating at 164 airports. TCR has outperformed ahead of 3i Infrastructure's expectations "and has now returned to its pre-Covid earnings before interest, tax, depreciation and amortisation," 3i Infrastructure explains.
Firm adds it is on track to deliver a dividend of 11.15 pence per share for financial year 2023, ending March 31, an increase of 6.7% from 10.45p it paid for financial year 2022.
Current stock price: 295.50 pence, up 2.4% on Friday
12-month change: down 2.8%
By Tom Budszus; [email protected]
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