23rd Jun 2025 11:53
(Alliance News) - International Public Partnerships Ltd on Monday said its portfolio of infrastructure investments continues to perform well, and the outlook for infrastructure remains positive, supported by government investment, including the UK government's 10 year infrastructure strategy.
The infrastructure strategy that Westminster published on Thursday last week reaffirmed its "long-term policy support for investing in infrastructure to enable resilient growth, drive the transition to a secure, low-carbon energy system, and ensure social infrastructure is capable of supporting essential public services."
Particularly relevant for International PPL, the UK strategy paper said that "a significant increase in private investment is needed to complement and maximise the value of the extensive public investment underway".
International PPL said its portfolio is well-positioned to continue delivering "predictable" inflation-linked returns.
"The board remains confident in the strength of the portfolio, the sustainability of the dividend policy, and the potential for long-term growth. Efforts to narrow the share price discount to NAV will remain a key priority," the company said.
Chair Mike Gerrard said: "We remain focused on delivering long-term shareholder value by maintaining a disciplined approach to capital allocation. This includes advancing our share buyback programme, targeted realisations that support our published valuations, and reinvesting where we see strong strategic alignment and where the long-term characteristics of a new investment substantially outperform the shorter-term benefits available through share buybacks. These initiatives reflect the board's confidence in the company's fundamentals and the quality of the portfolio - qualities that we believe are not reflected in the current market-wide discount to NAV."
International PPL shares were up 0.5% to 120.16 pence near midday on Monday in London, giving it a market capitalisation of GBP2.22 billion. It net asset value per share on December 31 was 144.7p.
By Tom Budszus, Alliance News slot editor
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