LONDON (dpa-AFX) - 3i Infrastructure plc (3IN.L), an investor in infrastructure businesses and assets, Monday announced that its portfolio overall continues to perform in line with expectations and is delivering a good level of income. The firm is on track to meet targets.
In its pre-close trading update for the period from April 1 to September 27, the company said that total portfolio income and non-income cash was 57 million pounds. This comprises portfolio income of 51 million pounds and non-income cash of 6 million pounds, compared to prior year's 46 million pounds and of portfolio income and 86 million pounds of non-income cash. Of this, the majority consisted of one-off refinancing gains.
The company said its newest investment, Joulz, has performed ahead of expectations in the first few months since acquisition.
Valorem has completed the bolt-on acquisition of Force Hydraulique Antillaise SAS and continues to perform well.
The Company is on track to deliver its dividend target for the year ending March 31, 2020 of 9.20 pence per share.
Richard Laing, Chair of 3i Infrastructure, said, 'Building on a strong performance in recent years, the Company has made a good start to the year, delivering a total shareholder return for the period of 8%. We are on track to meet our target return and dividend target for the year.'
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