International Public Partnerships sees NAV rise

International Public Partnerships (IPP), the infrastructure investment company, said that its net asset value (NAV) rose in 2011 but profits fell.

The group's total NAV grew to £624.3m by the end of last year, 15.2% up on the same point of 2010.

Profit before tax came in at £13.2m for the year, down from the £16.5m the group made in 2010.

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The final dividend has been announced at 2.925p per share, bringing the full year figure to 5.85p.

IPP invested £122m in new projects through 2011, and says the investment pipeline is strong. Investments included the UK Government's interest in the Building Schools for the Future programme, bringing stakes in over 100 schools.

The company also became an investor in the UK offshore transmission sector through 100% investments in the Robin Rigg, Gunfleet Sands, and Barrow projects.

IPP's Chairman, Keith Dorian said: "The company and our shareholders continue to benefit from the opportunities arising from the renewed commitment shown by governments to infrastructure investment across our geographies."

IPP shares were unchanged by 10:16.

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