International Public Partnerships posts record results

FTSE 250 infrastructure investment company International Public Partnerships posted strong growth in its portfolio on Thursday, with its net asset value rising 21.5% to £1.29bn in 2015. NAV per share was up 2.5% to 130.2p.

The firm proposed a full year fully covered cash dividend, up 2.5% to 6.45p.

Its IFRS profit before tax of £79.9m was a 12.2% rise on 2014’s $71.2m, with the company’s total shareholder return since 2006 now sitting at 115% against a FTSE All Share return of 49.2%.

International PPL chairman Rupert Dorey said he was pleased to announce the record year, following the commitment of more than £300m in landmark UK and global infrastructure assets.

"Entering the company's 10th anniversary year, tailored primary market origination of long-term, low-risk and stable investment opportunities combined with unique exposure to the emerging North American PPP market continue to be among the factors that differentiate the company in the sectors in which it invests,” he said.

“The company invested in one of the UK's largest infrastructure projects, the £4.2bn Tideway project, before making its first investment in the United States. I'm confident in the company's future prospects given its continued robust performance and in the Investment Adviser's judgement and ability to strengthen the portfolio and its pipeline,” Dorey explained.

Going forward, International PPL’s board remained confident in its investments to deliver steady, predictable returns over the long-term, despite persistent volatility in the global equity markets.

In a separate announcement, International PPL also declared a second half dividend for 2015 of 3.225p per share.