IPP results in line with expectations

Infrastructure investment company International Public Partnerships (IPP) said its portfolio of 22 assets "performed well" in the first four months of the year.

Infrastructure investment company International Public Partnerships (IPP) said its portfolio of 22 assets "performed well" in the first four months of the year.

The company's revenue and cash receipts were in line with expectations from January 1st to May 16th as levels of satisfaction remain high amongst public sector clients.

Its top investments include the Ormonde offshore energy transmission project, Diabolo project and Building Schools for the Future portfolio.

Favourable foreign exchange movements have offset a marginal net increase in government bond yields since the end of December.

With that in mind, the group is targeting a full-year 2013 dividend of 6.15p per share, up 2.5% from the previous year.

The company has delivered a total shareholder return of 79.9% since its initial public offering in November 2006.

A total of £46.5m of new capital has been raised from investors by means of tap issuance.

A further £40m was raised in January to support the near term pipeline of opportunities and an additional £6.5m was issued during April and May to satisfy demand for the company's shares that cannot be met through the secondary market.

The group had about £85m of cash available for investment at the end of the period.

"The company's portfolio continues to perform well and the company is confident that there continues to be a number of attractive infrastructure opportunities in the UK and in the overseas jurisdictions in which the advisor is represented and knowledgeable," IPP said.

RD

Recommended

Aviva: a share for income investors to tuck away
Share tips

Aviva: a share for income investors to tuck away

Insurance giant Aviva is one of the highest yielding stocks in the FTSE 100 – and it’s cheap, too, making it a tempting target for income investors. R…
18 May 2022
The ten highest dividend yields in the FTSE 100
Income investing

The ten highest dividend yields in the FTSE 100

Rupert Hargreaves looks at the FTSE 100’s top yielding stocks for income investors to consider.
18 May 2022
Three fast-growing, undervalued UK mid-cap stocks to buy now
Share tips

Three fast-growing, undervalued UK mid-cap stocks to buy now

Professional investor Katen Patel of the JPMorgan Mid Cap Investment Trust picks three fast-growing UK mid-cap stocks to buy now.
18 May 2022
Should you buy Vodafone shares, or steer clear?
Share tips

Should you buy Vodafone shares, or steer clear?

Vodafone grew revenue by 4% and profit by 11% last year, and offers investors a 6.4% dividend yield. So should you buy Vodafone shares? Rupert Hargrea…
17 May 2022

Most Popular

Get set for another debt binge as real interest rates fall
UK Economy

Get set for another debt binge as real interest rates fall

Despite the fuss about rising interest rates, they’re falling in real terms. That will blow up a wild bubble, says Matthew Lynn.
15 May 2022
Is the oil market heading for a supply glut?
Oil

Is the oil market heading for a supply glut?

Many people assume that the high oil price is here to stay – and could well go higher. But we’ve been here before, says Max King. History suggests tha…
16 May 2022
Value is starting to emerge in the markets
Investment strategy

Value is starting to emerge in the markets

If you are looking for long-term value in the markets, some is beginning to emerge, says Merryn Somerset Webb. Indeed, you may soon be able to buy tra…
16 May 2022