(Alliance News) - 3i Infrastructure PLC on Thursday said it saw continued growth and a strong performance across its portfolio in its first quarter.
For the period from April 1 to June 30, the London-based infrastructure investment company said total income and non-income cash was up 53% to GBP55 million, compared to GBP36 million the year before.
"Our carefully constructed and highly differentiated portfolio continues to deliver strong trading momentum and growth, providing a catalyst for reinvestment in our businesses," said Managing Parters and Co-Heads of European Infrastructure at 3i Investments PLC, Scott Moseley and Bernardo Sottomayor.
3i infrastructure said as of June 30 the company had available liquidity of GBP345 million, and a cash balance of GBP60 million, with undrawn commitments of GBP285 million under its GBP900 million revolving credit facility.
The company said it the payment of its final dividend for financial 2023 of 5.575 pence per share will be made on Monday.
3i Infrastructure said it was on track to deliver its dividend target for the current year of 11.90p per share, up 6.7% from 11.15p the year before.
"There are no material refinancing requirements in the portfolio until 2026. As at the period end date, around 95% of the portfolio company debt is either hedged or fixed rate and we expect that 90% of portfolio company debt will mature beyond the next three years," 3i infrastructure said.
Shares in 3i Infrastructure were down 0.6% at 313.18 pence in London on Thursday morning.
By Will Neill, Alliance News reporter
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3i Infrastructure (3IN)