23rd Mar 2020 10:10
(Alliance News) - International Public Partnerships Ltd on Monday confirmed that the operational performance of its assets continues as expected, with Covid-19 having no impact on the cashflow from investments.
The FTSE 250-listed infrastructure investment company said its balance sheet remains "robust" with a GBP400 million revolving debt facility, maturing in July 2021, of which GBP9.5 million is cash drawn or otherwise committed.
The company also said it has GBP70 million of cash available in addition to the cash held within the underlying investments.
International Public Partnerships said it continues to provide clients with the support they need whilst ensuring the health and safety of staff. This includes focussing on continuity of service delivery, availability of facilities and assurance of cashflows.
Schools make up a "significant" part of the company's portfolio, it noted. However, International Public Partnerships said the closure of schools in the UK and Germany - and likely closures in Australia- will have no impact on the company's performance.
International Public Partnerships shares were trading 3.9% lower in London on Monday at 131.44 pence each.
By Evelina Grecenko; [email protected]
Copyright 2020 Alliance News Limited. All Rights Reserved.
Related Shares:
International Public Partnerships