3i Group delivers 14% total return growth amid 'good' portfolio performance

Writer, Stock Market Wire
Thursday, January 31, 2019 - 08:43

3i Group said Thursday total returned increased 13.9% for nine months through December last year driven by 'good' portfolio growth.

For the nine months to 31 December, total return rose 13.9% and net asset value per share of rose 3.35% to 802p from 776p seen at the September end.

The company also said it had completed a €56m further investment in Hans Anders to support its acquisition of 'eyes+more' and completed four bolt-on acquisitions in Aspen Pumps, Cirtec Medical and Royal Sanders.

'This was another good quarter for 3i, during a period of significant market volatility. Our Private Equity portfolio performed well, with Action, Aspen Pumps and Audley Travel generating good growth, and 3iN continued its strong run,' said Simon Borrows, Chief Executive.

'Our balance sheet is well funded but we remain cautious about the pricing of private investments in the current environment and have continued to focus on bolt-on acquisitions.' 'As we approach the close to our financial year we remain confident that our diversified portfolio is well positioned to deliver further good growth and withstand market turbulence in these uncertain political and economic times.'

At 8:43am: (LON:III) 3i Group PLC share price was +7p at 850.8p

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