By Iain Gilbert
Date: Thursday 14 Nov 2024
LONDON (ShareCast) - (Sharecast News) - Private equity and venture capital firm 3i Group said on Thursday that it had delivered a "good financial performance" for the six months ended 30 September.
3i Group reported a total return of £2.04bn or 10% on opening shareholders' funds in H125 and said its net asset value per share had risen from 2,085.0p to 2,261.0p, including a 48.0p per share loss on FX translation.
The FTSE 100-listed firm noted that its private equity business delivered a gross investment return of £2.07bn or 11%, with its Action unit being the main contributor to returns, generating net sales of €9.56bn and underlying operating earnings of €1.34bn.
3i also highlighted that its infrastructure business had generated a gross investment return of £43.0m or 3%.
Chief executive Simon Borrows said: "Against an uncertain geopolitical environment and weak growth across much of Europe, we move into the second half of FY2025 with a portfolio that is well positioned to build on a solid first half.
"We have seen good momentum across our investment and realisation activity in the half and we have a good pipeline of high-quality realisations for the next 12 months. We also have some interesting potential opportunities in our investment pipeline, which we will continue to review in a disciplined way and progress those that are most attractive."
As of 0900 GMT, 3i shares were up 2.79% at 3,423.0p.
Reporting by Iain Gilbert at Sharecast.com