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

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

Here’s why you really should own at least some bitcoin
Bitcoin

Here’s why you really should own at least some bitcoin

While bitcoin is having a quiet year – at least in relative terms – its potential to become the default cash system for the internet is undiminished, …
16 Sep 2020
Will a second wave of Covid lead to another stockmarket crash?
Stockmarkets

Will a second wave of Covid lead to another stockmarket crash?

Can we expect to see another lockdown like in March, and what will that mean for your money? John Stepek explains.
18 Sep 2020
James Ferguson: How bad data is driving fear of a second wave of Covid-19
UK Economy

James Ferguson: How bad data is driving fear of a second wave of Covid-19

Merryn and John talk to MoneyWeek regular James Ferguson about the rise in infections in coronavirus and what the data is really telling us.
17 Sep 2020