LONDON (dpa-AFX) - 3i Group Plc (III.L), a British private equity and venture capital firm, Thursday said it recorded a rise in net asset value per share or NAV and sales for the first quarter, citing resilient private equity portfolio.
For the first quarter, the London-based firm posted a NAV per share at 1,406 pence, compared with 1,063 pence, reported a year ago.
3i's largest Private Equity portfolio company Action had sales for the quarter of 2.061 billion euros, higher than 1.688 billion euros during the corresponding period a year ago.
For the three-month period, Action's EBITDA was at 263 million euros, an increase of 29 percent from the last-year quarter.
Looking ahead, Simon Borrows, Chief Executive, said, 'We see broader economic conditions deteriorating over the rest of the year but remain confident in the composition of our portfolio. We continue to focus on actively managing our portfolio and making sensibly priced investments and bolt-on acquisitions. We will also pursue our realisation projects where conditions allow.'
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