Share Search
Visit the Share Search
GCP Infrastructure 'well-placed' to weather Covid-19 storm
20th Mar 2020 09:05
(Sharecast News) - GCP Infrastructure Investments updated the market on Friday, saying both it and its investment advisor believed the kind of investments it made were "well-placed" to weather the uncertainty driven by the Covid-19 coronavirus pandemic over the long term.
The FTSE 250 company said that all of its investments were availability-based infrastructure assets, and thus were not currently expected to be materially impacted by the reduced demand for goods and services that was occurring as a result of restrictions on the movement of people.
Any potential impact was likely to be limited to short-term reductions in asset performance, which could result from the reduced availability of personnel responsible for operating, managing or maintaining assets, or spare parts.
There was also likely to be an impact if there was a short-term reduction to electricity prices.
"The investment advisor does not currently consider these to be material risks to the company's ability to continue to meet its key long-term objective of providing shareholders with regular, sustained, long-term dividends and the preservation of capital over the long term," the board said in its statement.
GCP said its investments were continuing to perform in line with the investment advisor's expectations.
At 0902 GMT, shares in GCP Infrastructure Investments were up 10.82% at 85p.
The FTSE 250 company said that all of its investments were availability-based infrastructure assets, and thus were not currently expected to be materially impacted by the reduced demand for goods and services that was occurring as a result of restrictions on the movement of people.
Any potential impact was likely to be limited to short-term reductions in asset performance, which could result from the reduced availability of personnel responsible for operating, managing or maintaining assets, or spare parts.
There was also likely to be an impact if there was a short-term reduction to electricity prices.
"The investment advisor does not currently consider these to be material risks to the company's ability to continue to meet its key long-term objective of providing shareholders with regular, sustained, long-term dividends and the preservation of capital over the long term," the board said in its statement.
GCP said its investments were continuing to perform in line with the investment advisor's expectations.
At 0902 GMT, shares in GCP Infrastructure Investments were up 10.82% at 85p.