Roundtable Discussion; The Future of Mineral Sands. Watch the video here.

Less Ads, More Data, More Tools Register for FREE

3i Infrastructure pleased with total NAV return, appoints new chairman

Fri, 06th Nov 2015 09:02

(ShareCast News) - Investment group 3i Infrastructure said its total return on asset value in the first half was broadly in line with expectations.In the six months to 30 September, the group achieved a 6.5% total return on net asset value, which it described as a "good result" compared with its targeted returns of 8% to 10% per year in the medium term.3i said the European portfolio continued to perform well both financially and operationally, adding the portfolio value increase in the period was driven mainly by the positive impact of regulatory developments on the value of the company's holding in electricity distribution company Elenia, which offset a sluggish performance from the India Fund.The FTSE 250 group, which invested £187m in the first six months of the year in European mid-market economic infrastructure and "low-risk" energy sectors, said portfolio income in the first half was in line with expectations at £27.1m.The investment group said it expects the income generated by the portfolio to increase in the second half, adding it will pay a 3.62p interim dividend and is on track to pay out 7.25p for the full year."We continue to develop the company's investment pipeline and we are assessing a broad range of early-stage opportunities," said group managing partners Ben Loomes and Phil White."In these highly competitive markets, we will remain disciplined in the assessment and pricing of these opportunities."Meanwhile, the group has announced Richard Laing will replace outgoing chairman Peter Sedgwick.Laing, the former chief executive of private equity and infrastructure investors CDC Group, is currently the non-executive director of JP Morgan Emerging Markets Investment Trust and will step in his new role on 1 January."I am excited by the opportunity to build on the strong foundations 3i Infrastructure has laid to date and to support the company in taking advantage of future opportunities," he said.3i shares were up 1.15% to 176.30p at 0930 GMT on Friday.

Related Shares

More News
3 May 2024 09:14

LONDON BROKER RATINGS: Jefferies cuts AJ Bell; Deutsche likes ConvaTec

(Alliance News) - The following London-listed shares received analyst recommendations Friday morning and Thursday:

2 May 2024 09:48

LONDON BROKER RATINGS: Deutsche Bank likes TP ICAP but says sell CMC

(Alliance News) - The following London-listed shares received analyst recommendations Thursday morning and Wednesday:

26 Mar 2024 09:40

LONDON BROKER RATINGS: Dr Martens cut to 'sell'; BofA likes Tullow

(Alliance News) - The following London-listed shares received analyst recommendations Tuesday morning and Monday:

25 Mar 2024 10:19

LONDON BROKER RATINGS: SocGen raises Sage; Numis cuts Virgin Money

(Alliance News) - The following London-listed shares received analyst recommendations Monday morning and Friday:

21 Mar 2024 12:19

LONDON MARKET MIDDAY: Stocks boosted as BoE keeps rates unchanged

(Alliance News) - Stock prices in London were higher at midday Thursday, after the Bank of England left interest rates unchanged, in a vote which rema...

Login to your account

Don't have an account? Click here to register.

Quickpicks are a member only feature

Login to your account

Don't have an account? Click here to register.