LONDON (ShareCast) - (Sharecast News) - Investment company International Public Partnerships said on Thursday that its portfolio had continued to turn in a "solid performance" over the six months ended 31 June.
International Public Partnerships stated its portfolio had performed in line with expectations, enabling a 2.7% half-year dividend increase to 3.78p per share and enough confidence for the board to reconfirm its 2021 and 2022 full-year dividend targets at 7.55p per share and 7.74p per share, respectively.

The London-listed group said total shareholder return since its initial public offering was now 231.4%, equivalent to an annualised TSR of 8.5%, while net asset value per share came to 145.1p, down from 147.1p at the end of 2020.

IFRS pre-tax profits were down from £35.4m to £27.2m.

Chairman Mike Gerrard said: "I am pleased to report another period of resilient operational and financial performance by the company. INPP's portfolio continues to meet our expectations and provide reliable income to our shareholders and valuable essential services to the local communities in which our assets operate.

"The board remains confident in the portfolio's operational and financial resilience and its future ability to generate highly visible cash flows which underpins the company's investment case."

As of 0900 BST, International PPL shares were up 0.58% at 172.0p.

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