3i Infrastructure delivers 'strong growth' across portfolio

Investment firm 3i Infrastructure said on Thursday that it had delivered "strong growth" across its portfolio during the three months ended 31 December.

3i Infrastructure stated that overall, its portfolio "performed well" in the quarter, exceeding expectations set in September, and was continuing to deliver a solid performance in the new year.

During the period, 3i said "strategically important contracts" were signed by portfolio companies TCR, Ionisos, GCX, Tampnet and ESVAGT, while Infinis and Valorem were also said to have made "good progress" in growing their respective renewable development pipelines.

3i noted that it was on track to deliver its full-year 2023 dividend target of 11.15p per share, up 6.7% year-on-year, which it expects to be fully covered by net income. Total income and non-income cash of £55.0m was received in the period, ahead of expectations.

As of 0925 GMT, 3i shares were up 0.21% at 339.70p.

Reporting by Iain Gilbert at Sharecast.com