3i Infrastructure FY return ahead of target, pre-tax profit rises

10th May 2022 09:03

(Sharecast News) - 3i Infrastructure said on Tuesday that it achieved a full-year return well ahead of its target as it posted a jump in pre-tax profit.

In the year to 31 March, pre-tax profit jumped to £404m from £206m the year before and the company achieved a return on opening net asset value of 17.2%.

This marked the eighth consecutive year the group has met or exceeded its return target.

The board recommended a final dividend of 5.225p a share, meeting its target for the year of 10.45p, and 6.6% above the previous year. For the year to the end of March 2023, 3i is targeting a total dividend of 11.15p a share, representing an increase of 6.7%.

Phil White, managing partner, Infrastructure, at 3i Investments, said: "It was a very good year for the company - a high level of new investment, excellent realisations, and a strong portfolio performance."