Business
Results for the six months to 30 September 2021
Results for the six months to 30 September 2021.
About this update from 3i Group Plc
[{"type":"text","content":"\n \n \n \n RNS Number : 0173S\n 3i Group PLC\n 11 November 2021\n \n \n \n \n \n \n \n 11 November 2021\n \n \n \n \n \n 3i Group plc announces results for the\nsix months to 30 September 2021 \n \n \n \n \n \n \n \n \n High quality portfolio drives strong result \n \n \n \n \n \n · \n \n Total return of £2,199 million or 24% on opening shareholders' funds\n \n (September 2020: £1,142 million, 15%) and \n \n NAV per share of 1,153 pence\n \n (31 March 2021: 947 pence) after paying 21 pence second dividend in July 2021. \n \n \n \n \n \n · \n \n Our Private Equity portfolio continues to perform strongly, with a gross investment return of £2,373 million in the period, or 27%\n \n (September 2020: £1,245 million, 19%). The majority of top 20 Private Equity investments demonstrated considerable momentum in the period, and in particular those in our chosen areas of focus of value-for-money, e-commerce, consumer and healthcare. These continue to benefit from our active management and long-term structural growth trends, some of which were accelerated by the pandemic. \n \n \n \n \n \n · \n \n Action \n \n continues to surpass expectations. Its growth has accelerated since the lifting of Covid-related restrictions, resulting in sales in the nine months to the end of period nine 2021 of €4.8 billion, \n 25% ahead of the same period last year\n . \n Like-for-like \n sales growth over the same period was also strong at 12.9%, compared to negative 2.5% in the same period last year.\n Action delivered last twelve months EBITDA of €765 million to the end of period nine 2021 (September 2020: €579 million). Strong trading continued into October 2021, with sales increasing to €5.4 billion and last twelve months EBITDA of €777 million.\n The international roll-out is proceeding well and the business is on track to open about 270 new stores in 2021. \n \n \n \n \n \n · \n In competitive markets for new investment our \n \n Private Equity\n \n \n \n business has continued to deploy capital selectively\n \n , with new investments in MAIT and the newly created ten23 health platform, as well as bolt-on investments for Cirtec Medical, Luqom and Havea in the period. Investment activity has continued since the period end, with a new investment in Dutch Bakery, transformational bolt-on acquisiti...