3i Infrastructure on track to meet guidance as net asset value rises
3i Infrastructure PLC on Tuesday reported net asset value growth, as its performance remained on track despite continuing macroeconomic volatility.
The Jersey-registered closed-ended infrastructure investor said its net asset value per share edged up 2.8% to 416.4 pence as at September 30, from 405.2p at the end of March.
3i Infrastructure shares rose 1.4% to 405.50 pence on Tuesday afternoon in London.
Total return was 4.5%, down from 7.4% the previous year, but in line with the investor's target return of 8% to 10% for the full year.
Primary contributors included FLAG, Infinis, Joulz and Oystercatcher, while the main detractors were ESVAGT, SRL and Ionisos.
3i Infrastructure noted that macroeconomic volatility had persisted and continued to temper the company's valuations "despite continued strong underlying trading performance."
The company declared an interim dividend of 7.15p, an increase of 6.3% from 6.725p a year ago.
Chair Richard Laing said: "We have a high-quality, diversified portfolio aligned with a range of supportive long-term megatrends, which continues to deliver strong earnings growth."
The company said it remains on track to meet its objectives for the financial year and its financial 2027 dividend target of 14.30p per share, up 6.3% on-year.
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