November 14, 2019 / 7:06 AM / a month ago

BRIEF-3I Group posts 10% total return in H1

Nov 14 (Reuters) - 3i Group PLC:

* TOTAL RETURN OF £767 MILLION OR 10% ON OPENING SHAREHOLDERS’ FUNDS (30 SEPTEMBER 2018: £728 MILLION, 10%) AND NAV PER SHARE OF 873 PENCE (31 MARCH 2019: 815 PENCE)

* GOOD TRADING PERFORMANCE ACROSS PRIVATE EQUITY PORTFOLIO, WITH UNDERLYING EARNINGS GROWTH UNDERPINNING A GROSS INVESTMENT RETURN OF £666 MILLION OR 11%. THIS WAS DRIVEN BY ASSETS INCLUDING ACTION, HANS ANDERS AND ASPEN PUMPS.

* FIRST FY2020 DIVIDEND OF 17.5 PENCE PER SHARE TO BE PAID IN RESPECT OF FIRST SIX MONTHS OF FINANCIAL YEAR, IN LINE WITH OUR DIVIDEND POLICY.

* CONSIDERED APPROACH TO NEW INVESTMENT IN PRIVATE EQUITY, WITH NEW INVESTMENTS IN MAGNITUDE SOFTWARE COMPLETED AND IN EVERNEX ANNOUNCED IN PERIOD.

* WE ALSO MADE SEVEN BOLT-ON ACQUISITIONS FOR PORTFOLIO COMPANIES AND ANNOUNCED A FURTHER SINCE PERIOD END, MOST OF WHICH WERE SELF-FUNDED. Source text for Eikon: Further company coverage: (Reporting By Sinead Cruise)

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