Half Yearly Report
August 26 2010 - 2:02AM
UK Regulatory
TIDMINPP
RNS Number : 6594R
International Public Partnership Ld
26 August 2010
26 August 2010
International public partnerships limited
Interim Results for the six months ended 30 June 2010
International Public Partnerships Limited (INPP), the listed infrastructure
investment company, which invests in global public infrastructure projects
developed under the public private partnerships (PPP) and private finance
initiative (PFI) procurement methods, today announces interim results for the
six months ended 30 June 2010.
Highlights
· Net Asset Value (NAV) of GBP516.5 million as at 30 June 2010 (GBP420.2m - 31
December 2009)
· NAV per share of 112.9p as at 30 June 2010 (112.1p - 31 December 2009)
· Half year dividend of 2.85p per share (up 3%)
· Completion of GBP89.3million capital raising in January 2010 - on track to be
fully invested by the end of 2010
· Three new investments made (UK and Germany) and further investment
opportunities identified
· Total shareholder return since inception of 35.8% (FTSE 250 -0.5%)
· Outperformance of FTSE 250 by 2.5% and FTSE All Share by 10.4% in reporting
period
Giles Frost, Director, International Public Partnerships Limited, commented:
"I am pleased to report another solid set of results for the company. The
continued strong performance of the underlying assets in the portfolio combined
with the attractive pipeline of new investments, indicates a positive future for
the company. We believe that recent government spending cuts may offer more
long-term opportunities for the company, which continues to be well positioned
to offer investors stable returns which are uncorrelated with general economic
conditions."
Keith Dorrian, Chairman, International Public Partnerships Limited, said:
"Despite the ongoing volatility in the general equity markets, INPP has yet
again underlined its strong investment strategy and delivered a solid set of
interim results. We remain enthusiastic about the long-term outlook for PPP/PFI
investment both in the U.K. and overseas and the Board is pleased to continue
its declared policy of incrementally increasing distributions paid to
shareholders."
INPP will be holding a results briefing at 9:30am today at Financial Dynamics -
Holborn Gate, London WC2A 1PB. For those investors and analysts that cannot
attend in person, a conference call facility will also be available. The dial-in
number for the call is +44 (0)20 7138 0822, and the confirmation code is
4221718.
A copy of the results presentation can be downloaded from the Company's website:
www.internationalpublicpartnerships.com
For further information:
Bianca Francis +44 (0)20 7939
0558
Amber Fund Management Limited
Hugh Jonathan/Nick Westlake +44 (0)20 7260 1263/1345
Numis Securities
Ed Gascoigne-Pees/Ed Berry +44 (0)20 7269
7132/7297
Financial Dynamics
Notes to Editors:
About International Public Partnerships (INPP):
International Public Partnerships (INPP) is a listed infrastructure investment
company which invests in global public infrastructure projects developed under
the public private partnerships (PPP) and private finance initiative (PFI)
procurement methods.
Listed in 2006, INPP is a long-term investor in 53 social and transport
infrastructure projects, including schools, hospitals, courts and police
headquarters in the UK, Europe, Australia and Canada. INPP seeks to provide its
shareholders with both a long-term government-backed yield and capital growth
through investment across both construction and operational phases of 25-40 year
concessions.
Amber Infrastructure Group (Amber) is the Investment Advisor to INPP and
consists of 50 dedicated infrastructure specialists which originate and source a
strong pipeline of projects for INPP.
Click on, or paste the following link into your web browser, to view the
associated PDF document.
http://www.rns-pdf.londonstockexchange.com/rns/6594R_-2010-8-25.pdf
This information is provided by RNS
The company news service from the London Stock Exchange
END
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