Business
3i Group Half-year results to 30 September 2017
3i Group Half-year results to 30 September 2017.
About this update from 3i Group Plc
[{"type":"text","content":"\n \nRNS Number : 6442W 3i Group PLC 16 November 2017 \n \n\n \n16 November 2017\n \n3i Group plc announces half-year results\nto 30 September 2017 \n \n \nAnother good first half performance \n \n· Continued progression in NAV per share to 652 pence (31 March 2017: 604 pence), after payment of the 18.5 pence FY2017 final dividend, and a total return of £655 million or 11% of opening shareholders' funds\n \n· Private Equity performed well, with strong performances from Action, Scandlines, ATESTEO, Audley Travel, Basic-Fit, Q Holding and Aspen Pumps contributing to its gross investment return of £715 million\n \n· Completed four new Private Equity investments totalling £514 million in Hans Anders, Formel D, Lampenwelt and Cirtec Medical\n \n· Significant growth of the third-party Infrastructure fund management business, including the addition of £830 million of assets under management in two new European infrastructure funds\n \n· Announced our first North American infrastructure investment, Smarte Carte\n \n· Strong balance sheet supported the increase in investment activity, resulting in net debt of £48 million at 30 September 2017. Good pipeline of investments and realisations in progress, which are expected to complete in the second half\n \n· Interim dividend of 8.0 pence in line with our dividend policy\n \n \nSimon Borrows, 3i's Chief Executive, commented:\n \n\"This was another good half for 3i. We used our strong balance sheet to invest in some attractive and well-priced businesses in Private Equity and added £830 million of assets under management in Infrastructure. Our Private Equity portfolio has been transformed over recent years and is on track to deliver another year of strong growth.\"\n \n \nSummary financial highlights under the Investment basis\n \n3i prepares its statutory financial statements in accordance with International Financial Reporting Standards as adopted by the European Union (\"IFRS\"). However, we continue to report using a non-GAAP \"Investment basis\" as we believe it aids users of our report to assess the Group's underlying operating perfo...