24th Mar 2016 07:58
LONDON (Alliance News) - Infrastructure investor International Public Partnerships Ltd on Thursday said its net asset value per share grew in 2015 and its pretax profit increased as it made a record number of investment commitments.
INPP said its net asset value per share at the end of December was 130.2 pence, up 2.5% from 127.0p at the end of 2014. Its total net asset value grew to GBP1.29 billion from GBP1.06 billion in the year, up 22%.
The group made an IFRS pretax profit GBP79.9 million, up from GBP71.2 million in 2014,.
INPP said it will pay a total dividend for the year of 6.45p per share, up from 6.3p a year earlier. INPP will target a minimum dividend of 6.65p for 2016 and 6.82p for 2017, it said, delivering at least 2.5% growth per year in its payout.
INPP made GBP311.7 million of commitments to infrastructure projects in 2015, including in the Thames Tideway Tunnel and in a US Military Housing project. It also now has majority ownership over 72% of the investments held in its portfolio.
INPP said it remains well positioned to deliver steady, predictable returns over the long-term and remains confident on making further investments in 2016, despite growing economic uncertainty globally.
"I'm confident in the company's future prospects given its continued robust performance and in the investment adviser's judgement and ability to strengthen the portfolio and its pipeline," said Chairman Rupert Dorey.
By Sam Unsted; [email protected]; @SamUAtAlliance
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