LONDON (dpa-AFX) - British infrastructure investment company International Public Partnerships Ld (INPP.L) Thursday reported profit before tax of 259,000 pounds for the first half of the year, significantly lower than 219.24 million pounds in the same period a year ago, hurt by a loss in the fair value of the company's investments.
Net change in investments at fair value was a loss of 67.12 million pounds for the first-half of the current year, compared with a gain of 166.93 million pounds last year.
Net profit declined to 220,000 pounds or 0.01p per share from 219.25 million pounds or 12.38p per share a year ago.
Total income fell to 21.93 million pounds from 237.22 million pounds in the previous-year period.
Net asset value per share as at June 30, 2023 was 155.2p, down from 159.1p as at December 31, 2022.
The company's Board has declared an interim dividend of 4.06 pence per share for the first half, to be paid on November 23.
For 2023, the company has raised its dividend target by 5% to 8.13p per share.
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