Triple Point Energy Efficiency Infrastructure Co PLC - London-based investment firm - Touts rise in energy prises as swings to an annual profit and hikes dividend. In the financial year that ended March 31, value of portfolio surges to GBP78.8 million from GBP20.9 million a year ago. Swings to an annual profit of GBP4.8 million versus a loss of GBP521,000 a year ago. However, net asset value drops to 96.12 pence per share from 97.49p. Hikes annual dividend to 5.50p from 2.00p a year ago.
"In addition to the beneficial tailwinds from the energy pricing and the focus on energy security, a significant proportion of the company's investments also benefit from a rising inflationary environment," says Chair John Roberts.
Triple Points announces possible change in investment policy: "The investment manager is undertaking a consultation with key shareholders regarding amending our existing investment policy to reflect better the nature of our existing portfolio and pipeline of opportunities.
"The key aspects of the proposed amendments include: confirming the scope of the company's investment mandate to reflect the wider energy transition sector; expanding our geographical reach to enable the company to make appropriate investments in Europe, albeit the United Kingdom will remain the core focus of the company; clarify the structures that the company is able to invest into, including both debt and equity; and including a definition of 'adjusted gross asset value' in place of 'gross asset value' for the purposes of applying the investment policy restrictions."
Current stock price: 89.37 pence, untraded
12-month change: down 17%
By Tom Budszus; tombudszus@alliancenews.com
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