HICL Infrastructure PLC - London-based closed-ended investment company - Net asset value per share ticks down 0.8% to 158.2 pence as at March 31 from 159.4p at December 31, citing UK inflation in the year to March being lower than it expected. Further, HICL notes a reduction in UK inflation assumptions for financial years 2025 and 2026. The company's financial year ends on March 31. Comparing the end of March to the end of September 2023, it says: "The impact of the decrease in actual inflation versus forecast assumptions resulted in a valuation downside of GBP24.3 million in the six-month period."
Looking ahead, HICL says: "In the short to medium term, market consensus is that UK inflation is expected to decline further; and adjustments have now been made to the company's short-term UK inflation assumptions for FY2025 and FY2026 to reflect the steeper decline in inflation than originally expected. No changes have been made to UK inflation assumptions post-2026, nor to inflation assumptions in other jurisdictions."
Current stock price: 123.68 pence each, down 0.3% late Tuesday morning in London
12-month change: down 19%
By Tom Budszus, Alliance News slot editor
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HICL Infrastructure (HICL)