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HICL Infrastructure PLC - London-based infrastructure investment firm - Says higher than expected inflation has benefited the portfolio, estimating that inflation will contribute an increase in net asset value per share of between 3.0 and 3.6 pence to the September 30 valuation. ‘Sensitivity analysis provided in HICL's annual report 2022 showed that if inflation were 3% above HICL's forecast assumptions for the next 12 months, NAV per share would increase by 3.6p,’ HICL explained. Raises £160 million during Aptil 1 to July 31 period.
HICL Chair Mike Bane says: ‘HICL's considered portfolio composition continues to deliver the defensive benefits of core infrastructure investment, including a high degree of inflation protection, against a challenging macro-economic and geopolitical backdrop. Following a successful equity raise, and extending its credit facilities, HICL is well positioned to continue to pursue its attractive pipeline of high-quality core infrastructure opportunities.’
Says on track to deliver target dividend of 8.25 pence per share for financial year ending March 31, in line with the year before.
Current stock price: 172.99 pence, down 0.2% in London on Monday
12-month change: up 0.5%
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