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Private equity company 3i said its portfolio company Action continued to perform above expectations for the period from July to September to date.
The company said it expected Action's LTM EBITDA to the end of September to be approximately €575m compared to €506m at September last year and €491m at the end of April this year.
Action continued to generate sales, earnings (EBITDA) and cash generation above expectations for July, August and September to date, the company said.
'Year-to-date sales at over €3.7bn have now recovered to be approximately 8% ahead of last year with strong trading continuing across all geographies,' the company said.
Action's first five stores in the Czech Republic was performing 'significantly ahead' of expectations, it added.
3i said that overall it continued to see 'strong' momentum in portfolio companies exposed to medical technology and personal care products and 'very good recovery' in its retail businesses through the automative and travel sector remained challenged.
At 8:06am: (LON:III) 3I Group PLC share price was +12.9p at 934.3p