3i sees slight increase in net asset value

The net asset value (NAV) of 3i Group rose by 4.8 per cent in the three months to December 31st, an interim management statement from the company has disclosed.

The net asset value (NAV) of 3i Group rose by 4.8 per cent in the three months to December 31st, an interim management statement from the company has disclosed.

Reporting on its performance over the past quarter, the company stated that the NAV had grown by 4.8% to £2.86 per share before the interim dividend of 2.7p per share is paid.

Simon Borrows, Chief Executive Officer of 3i, commented: "We are well into the first phase of restructuring at 3i and have made strong and measurable progress against the immediate priorities for the business that I announced in June last year. In particular, we expect to exceed the operating cost reduction targets for this financial year ending March 31st 2013."

He added: "Despite challenging market conditions, strong businesses are always in demand. Over the last six months, in addition to implementing the re-organisation and cost reduction programme, we have been busy preparing for realisations within Private Equity. We expect to see the benefits of this coming through over the next 18 months, with a number of key realisations as well as an increasing level of investment activity."

3i's share price was down 2.42% to 265.90p at 10:34 on Thursday.

Recommended

Broker safety – your questions answered
Investment strategy

Broker safety – your questions answered

Cris Sholto Heaton answers more of your questions about the safety of stockbroker accounts
25 Mar 2020
How demographics affects stock valuations
Investment strategy

How demographics affects stock valuations

New research suggests that stock and bond valuations are driven by the age of the population – at least in the US.
24 Feb 2020
Do you own shares in Sirius Minerals? Here’s what you need to do now
Stocks and shares

Do you own shares in Sirius Minerals? Here’s what you need to do now

Mining giant Anglo American has proposed a cash takeover of Yorkshire-based minnow Sirius Minerals. Unhappy shareholders must decide whether to accept…
20 Feb 2020
Why investors should be “cautiously bullish” for 2020
Stockmarkets

Why investors should be “cautiously bullish” for 2020

Analysts have been out in force making rosy predictions for stockmarkets in 2020, but while there is certainly a case for optimism, investors should r…
17 Jan 2020

Most Popular

A simple way to profit from the next big trend change in the markets
Investment strategy

A simple way to profit from the next big trend change in the markets

Change is coming to the markets as the tech-stock bull market of the 2010s is replaced by a new cycle of rising commodity prices. John Stepek explains…
14 Jan 2021
Forget austerity – governments and central banks have no intention of cutting back
Global Economy

Forget austerity – governments and central banks have no intention of cutting back

Once the pandemic is over will we return to an era of austerity to pay for all the stimulus? Not likely, says John Stepek. The money will continue to …
15 Jan 2021
Here’s why markets have shrugged off the US political turmoil
Investment strategy

Here’s why markets have shrugged off the US political turmoil

Despite all the current political shenanigans in the US, markets couldn’t seem to care less. John Stepek explains why, and what it means for your mone…
7 Jan 2021