23rd Mar 2005 07:00
3i Group PLC23 March 2005 3i Group plc - Pre close briefing to 31 March 2005 3i Group plc ("3i"), Europe's leading private equity company, will today startits pre close period analyst briefings ahead of the announcement of its fullyear results on 12 May 2005. The results for the full year will be based on the normal detailed valuationexercise carried out at 31 March 2005. The main topics that will be discussed during the briefings are: 1. Investment Investment, including co-investment funds to 28 February 2005, totalled £843million. This compares with total investment of £794 million, includingco-investment funds, to 29 February 2004. 2. Realisations Realisation proceeds were £1.15 billion in the eleven months to 28 February2005. This compares with realisation proceeds of £807 million to 29 February2004. 3. Unquoted portfolio The latest Enterprise Barometer survey of the 3i portfolio was published on 25February 2005. The overall result was +38, a modest increase from +23 for thefourth quarter 2004. We expect that the level of provisions for investments that may fail anddownrounds for the period to 31 March 2005 will be at lower levels than for thefull year to 31 March 2004. 4. Capital structure The Board is considering returning surplus cash to shareholders and we expect tomake an announcement at the time of our full year results on 12 May 2005. 5. Regulation 3i Group plc intends to cease being a Deposit Taker regulated by the FinancialServices Authority ("FSA") and is in discussion with the FSA regarding thetimetable for this change. 3i Investments plc will continue to be regulated bythe FSA. Philip Yea, 3i's Chief Executive said: "We are continuing to see strong performance across our business and are takingadvantage of the competitive dynamics of our markets. This is particularly seenin the very strong level of realisations from our portfolio, although investmentlevels have also remained good." Ends For information please contact: Michael Queen Finance Director, 3i Group plc 020 7975 3400Patrick Dunne Group Communications Director, 3i Group plc 020 7975 3566Philip Gawith The Maitland Consultancy 020 7379 5151 This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
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