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Private equity group 3i reported a sharp uptick in total returns for the year as its private equity portfolio was up sharply.
For the year to 31 March, total return was £1,726 million, up from £253 million last year and net asset value per share rose to 947 pence from 804 pence.
The private equity business delivered a gross investment return of £1,936 million or 30%, up from £352 million and 6%, respectively, last year.
'In FY2021 we saw strong momentum in earnings growth and cash generation in portfolio companies operating in consumer goods, e-commerce, healthcare and business and technology services, while those operating in the travel and automotive segments continued to face challenges,' the company said.
A dividend of 38.5 pence per share was declared for fiscal 2021, with a second fiscal 2021 dividend of 21.0 pence per share to be paid in July 2021 subject to shareholder approval.
At 8:05am: (LON:III) 3I Group PLC share price was 0p at 1111p