Cash flow in line with expectations, says HICL

1st Aug 2011 09:32

Infrastructure investor HICL Infrastructure Company said its investment portfolio performance and cash flow is in line with projections, sending its shares higher.The company soothed its investors by saying that the group is positioned to maintain its competitiveness and stability despite the growing uncertainties in the global economies and financial markets. In its interim management statement, HICL also highlighted that it has up to £175m from its £200m revolving debt facility with Bank of Scotland for further acquisitions, assuming no further equity is raised.It added that it has discussed options for renewing the group's debt facility and has planned to begin negotiations in the second half of the year.Shares of HICL rose 0.3% to 115p in early trading session in London.AR