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GCP Infrastructure Investments Ltd on Tuesday reported its net asset value rose in the half-year ended March 31.
Net asset value per share climbed 12% to 112.75 pence from 100.78 pence a year ago. That is 0.2% higher than the firm's pre-pandemic net asset value of 112.54p per share as at March 31, 2019. GCP Infrastructure is a Jersey, UK-based investment fund focused on UK infrastructure projects.
Its market capitalisation rose to £975.5 million from £905.4 million. Weighted average annualised yield stood at 7.9%, slightly down from 8.0% a year ago. The company proposed an interim dividend of 3.50 pence per share, unchanged from a year ago.
While noting the UK government's updated energy strategy with focus on the country's energy security following the Russian invasion of Ukraine, the firm does not see immediate investment opportunities arising from this.
Regarding its outlook, the company said: ‘In the medium term, the investment adviser is reviewing a number of investment opportunities in sectors including electric vehicles and associated charging infrastructure, hydrogen, carbon capture, sustainable packaging and digital infrastructure as well as additional investments in existing sectors including anaerobic digestion and biomass.’
On a separate note, the company confirmed new chair, Andrew Didham, started his position on Monday.
GCP Infrastructure Investments shares were 0.1% higher at 114.94 pence each in London on Tuesday morning.
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