International Public Partnerships unveils profits rise

Infrastructure investment company International Public Partnerships (INPP) increased its dividend for the fifth consecutive year as it achieved a rise in 2012 profits.

Infrastructure investment company International Public Partnerships (INPP) increased its dividend for the fifth consecutive year as it achieved a rise in 2012 profits.

The group raised its dividend by 2.6% on the prior year to 6.0p per share.

Pre-tax profit came to £26.8m, up from £13.2m the year following a solid return on investments.

Net asset value increased 3.5% year-on-year to 121p with net asset value growth up 37.9% to £861m.

Underlying assets generated £53.6m of cash compared to £44m in 2011.

The company made £146.6m worth of new investments during the period including the £115.1m acquisition of the Ormonde offshore wind farm which is expected to generate enough electricity every year to meet the needs of more than 100,000 UK households.

An £30.9m investment was also made in additional building schools.

Another milestone was the completion of construction on the company's second largest asset by value, the Northern Diabolo project in Belgium, on budget and on time. The project is for the development of the Brussels Airport rail network.

"Another strong set of full-year results for INPP has been underpinned by continued performance of the underlying portfolio and a high level of investment," said Chairman Keith Dorrian.

"At a time when the number of new UK private finance initiative investment opportunities is limited and competition is increasing, INPP's access to a diverse investment pipeline, both geographically and by sector, is critical and a key differentiator.

"We enter 2013 with renewed optimism, supported by continuing government commitment in the UK and across our key jurisdictions for infrastructure investment."

A further £40m was raised in January to support the company's investment opportunities this year.

RD

Recommended

How to profit from pampered pets beyond the pandemic
Share tips

How to profit from pampered pets beyond the pandemic

Covid-19 has greatly boosted ownership. But the market had been expanding for years, and demographic, cultural and medical trends all point to long-te…
30 Jul 2021
Share tips of the week – 30 July
Share tips

Share tips of the week – 30 July

MoneyWeek’s comprehensive guide to the best of this week’s share tips from the rest of the UK's financial pages.
30 Jul 2021
Robinhood is going public – should you invest?
US stockmarkets

Robinhood is going public – should you invest?

Online stockbroking app Robinhood is going public on the US stock exchange. Saloni Sardana looks at whether it's worth a punt.
29 Jul 2021
Three sustainable stocks that are doing well by doing good
Share tips

Three sustainable stocks that are doing well by doing good

Professional investor Peter Michaelis of the Liontrust Sustainable Investment Team picks three stocks to buy that are helping to create a cleaner, saf…
26 Jul 2021

Most Popular

Why the UK's 2.5% inflation is a big deal
Inflation

Why the UK's 2.5% inflation is a big deal

After years of inflation being a financial-assets problem, it is now an “ordinary things” problem too, says Merryn Somerset Webb. But central banks st…
16 Jul 2021
The MoneyWeek Podcast: Asia, financial repression and the nature of capitalism
Economy

The MoneyWeek Podcast: Asia, financial repression and the nature of capitalism

Russell Napier talks to Merryn about financial repression – or "stealing money from old people slowly" – plus how Asian capitalism is taking over in t…
16 Jul 2021
Three companies that are reaping the rewards of investment
Share tips

Three companies that are reaping the rewards of investment

Professional investor Edward Wielechowski of the Odyssean Investment Trust highlights three stocks that have have invested well – and are able to deal…
19 Jul 2021