LONDON (Alliance News) - GCP Infrastructure Investments Ltd Friday reported a 17% increase in first-half pretax profit.
The company said it made a GBP22.1 million net profit in the six months ended March 31, compared with GBP18.9 million in the prior year. Its net asset value was 105.69 pence at the end of March, up from 104.53p at the end of September 2014.
"The increased profit has been driven by growth of the investment portfolio following the deployment of the capital raised from the 2014 Placing Programme into a variety of infrastructure project," Chairman Ian Reeves said in a statement.
The company is able to issue 150 million new shares under a placing programme to fund new investments.
GCP shares were flat at 119.75p on Friday morning.
By Samuel Agini; samagini@alliancenews.com; @samuelagini
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GCP Infrastructure Investments (GCP)