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(Alliance News) - 3i Group PLC on Wednesday said its semi-annual portfolio company reviews showed "good progress against a difficult macroeconomic backdrop".
The London-based investment manager is focused on mid-market Private Equity and Infrastructure in northern Europe and North America. It is holding a capital markets seminar on Wednesday.
In its Private Equity portfolio, 3i said assets in the value-for-money consumer and private label, healthcare, speciality industrial and technology services sectors are showing positive momentum heading into the second half of 3i's financial year, which ends on March 31. Travel-related holdings have seen "a sustained increase in demand", 3i said.
Turning to Benelux-based retailer Action, 3i's largest portfolio holding, year-to-date sales have totalled EUR7.5 billion, up 31% on the same period a year before. The remainder of calendar 2023 will have a more challenging comparison, however, 3i said. Action has added 140 net new stores in the year to date and is on track to add about 300 stores in all of 2023.
3i shares were 0.1% higher at 2,087.00 pence in London on Wednesday morning.
By Tom Waite, Alliance News editor
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