3i Infrastructure expects to hit targets with annual results

28th Mar 2024 08:42

(Sharecast News) - Infrastructure investment group 3i Infrastructure said trading towards the end of its financial year has been in line with expectations with its portfolio performing well and delivering strong earnings growth.

The company said it remains on track to deliver its dividend target of 11.9p per share for the year ending 31 March, up 6.7% on the year before.

"We expect to report returns for the period in line with our target, driven by continued earnings momentum at our larger assets," said Scott Moseley and Bernardo Sottomayor, managing partners and co-heads of European Infrastructure at 3i Investments, the investment manager of the company

"Following the outperformance achieved in the first half, this is another strong year for 3iN."

Income and non-income cash is said to be slightly ahead of expectations for the year at £104m in the second half, in line with the first half.

The stock was up 0.4% at 7,959.45p by 0913 GMT.