Business
FY2017 Q1 Performance update
FY2017 Q1 Performance update.
About this update from 3i Group Plc
[{"type":"text","content":"\n \nRNS Number : 3169F 3i Group PLC 27 July 2016 \n\n27 July 2016\n \n3i Group plc\nFY2017 Q1 performance update\n \n\n\n\n\nA solid start to the year with good levels of investment and portfolio activity\n \n· NAV per share of 538 pence and total return of 16.4% at 30 June 2016\n \n· Private Equity generated cash proceeds of £438 million in the quarter and will generate a further c.£143 million from the sales of Geka, Polyconcept and UFO Moviez in Q2\n \n· Announced c.£283 million Private Equity investment in two new companies, Schlemmer and BoConcept\n \n· Supported 3i Infrastructure plc's (\"3iN\") successful capital raising, investing £131 million to maintain our 34% shareholding\n \n· Our well funded balance sheet and our portfolio of international companies position us well for the current environment\n \n· Ex-dividend NAV per share of 522 pence with the 16 pence final FY2016 dividend paid on 22 July 2016\n \n\n\n\n\n \n \nSimon Borrows, Chief Executive, commented:\n \n\"This was a busy quarter for 3i. To date we have announced some £580 million of realisations, as well as two new investments in Private Equity and a £131 million further investment in 3iN. As we announced on 30 June 2016, we have materially increased the valuation of Action to £1.5 billion.\n \nWe remain focused on executing our strategy and we will continue to drive the performance of our portfolio and seek attractive investment opportunities.\"\n \n \nPrivate Equity\nInvestments\nThe team started the year with a promising pipeline of opportunities. In May we announced a €181 million investment in Schlemmer, a global leader in cable management solutions for the automotive industry headquartered in Germany. The investment is subject to customary regulatory approvals. In early July we announced a c.£132 million investment in BoConcept, an urban interior design brand in the affordable luxury segment headquartered in Denmark.\n \n \nRealisations\n \nWe generated total cash proceeds in the quarter of £438 million. The strong realisations activity has continued in the second quarter and we agreed the sales of GEKA, Polyconcep...