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International Public Partnerships is an Investment Trust

To provide shareholders with long-term, inflation-linked returns, by growing dividends and creating the potential for capital appreciation through high-quality public infrastructure projects internationally or located within core OECD countries.

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Half Yearly Report

30 Aug 2011 07:00

RNS Number : 1746N
International Public Partnership Ld
30 August 2011
 



30 August 2011

 

INTERNATIONAL PUBLIC PARTNERSHIPS LIMITED

 

Interim Results for the six months ended 30 June 2011

 

International Public Partnerships Limited (INPP), the listed infrastructure investment company, which invests in global public infrastructure projects developed under the public private partnerships (PPP) and private finance initiative (PFI) procurement methods, today announces interim results for the six months ended 30 June 2011.

 

Highlights

 

·; Net Asset Value (NAV) of £550.0 million as at 30 June 2011 (£541.9m - 31 December 2010)

 

·; NAV per share of 113.6p as at 30 June 2010 (113.1p - 31 December 2010)

 

·; Half year dividend of 2.925p per share (up 2.6% on 30 June 2010)

 

·; Thirteen new investments made totalling £39.8m during the period, including:

- A$1bn Gold Coast Light Rail project, Australia

- UK offshore transmission project at Robin Rigg

- Eight NHS LIFT projects and an interest in Liverpool Library in UK

- Additional 50% interests in both Long Bay Forensic and Prison Hospital and Royal Melbourne Showgrounds , Australia

 

·; Further diversification of the portfolio, including two acquisitions totalling £68.7m made post period end, including:- 100% interest in Building Schools for the Future Investments LLP- Second UK offshore transmission project at Gunfleet Sands

 

·; Total shareholder return since inception to 23 August 2011 of 43.3% (FTSE AllShare (0.7)%)

 

·; Outlook positive with strong pipeline of long-term investment opportunities

 

·; Over £108 million invested in 2011 to date. Company will keep under review appropriate capital raising initiatives to support opportunities for accretive growth.

 

Keith Dorrian, Chairman, International Public Partnerships Limited, said:

 

"The Board remains confident in the long-term outlook for PPP/PFI investment, both in the UK and globally and believes that the Company will continue to take advantage of an exciting pipeline of investment opportunities to enable it to deliver long-term, steady returns for shareholders."

 

Giles Frost, Director, Amber Infrastructure Limited (Investment Advisor to International Public Partnerships Limited), commented:

 

"Against a backdrop of ongoing political, financial and market uncertainty, INPP has again produced a solid performance during the first half of the year. We have further built on our diversified portfolio of assets - both geographically and by sector - and remain committed and well positioned to provide our shareholders with a steadily growing dividend and capital growth going forward."

 

 

INPP will be holding a results briefing at 9:30am today at Financial Dynamics - Holborn Gate, London WC2A 1PB. For those investors and analysts who cannot attend in person, a conference call facility will also be available. The dial-in number for the call is +44 (0)20 7136 2055, and the confirmation code is 3779574.

 

A copy of the results presentation can be downloaded from the Company's website:

www.internationalpublicpartnerships.com

 

 

For further information:

 

Erica Sibree +44 (0)20 7939 0558

Amber Fund Management Limited

 

Hugh Jonathan/Nick Westlake +44 (0)20 7260 1263/1345

Numis Securities

Ed Gascoigne-Pees/Ed Berry +44 (0)20 7269 7132/7297Financial Dynamics

 

Notes to Editors:

 

About International Public Partnerships (INPP):

 

International Public Partnerships Limited (INPP) is a listed infrastructure investment company which invests in global public infrastructure projects developed under the public private partnerships (PPP) and private finance initiative (PFI) procurement methods.

 

Listed in 2006, INPP is a long-term investor in 109 social and transport infrastructure projects, including schools, hospitals, courts, police headquarters and transport projects in the U.K., Europe, Australia and Canada. INPP seeks to provide its shareholders with both a long-term government-backed yield and capital growth through investment across both construction and operational phases of 25-40 year concessions.

 

Amber Infrastructure Group (Amber) is the Investment Advisor to INPP and consists of more than 50 dedicated infrastructure specialists which originate and source a strong pipeline of projects for INPP.

 

 

Click on, or paste the following link into your web browser, to view the associated PDF document.

http://www.rns-pdf.londonstockexchange.com/rns/1746N_-2011-8-29.pdf

 

 

 

This information is provided by RNS
The company news service from the London Stock Exchange
 
END
 
 
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