|
Cordiant Digital Infrastructure Ltd on Monday said it was encouraged by its recent performance, as earnings and sales grew in the first three quarters of its financial year. Earnings before interest, tax, depreciation and amortisation for the nine months that ended December 31 increased by 14% to £115.6 million from £99.4 million a year prior, while revenue rose 9.6% to £241.9 million from £217.4 million, both at constant currency. The improvement was driven by contributions from contract wins, recent bolt-on acquisitions, cost control, and the beneficial effects of contractual and other price escalators on revenue, Cordiant said. In response, shares in the UK-based investor in specialist digital infrastructure rose 0.6% to 85.72 pence each in London on Monday. Chair Shonaid Jemmett-Page said: ‘The board continues to be encouraged by the company’s progress in the four years since its IPO. Operational performance across the portfolio is strong.’ But Jemmett-Page said she was ‘disappointed’ with the share price performance, and believes the discount to net asset value at which the company trades is ‘not warranted by the company’s performance’. ‘We remain confident that the company’s progress and achievements will be better reflected as current market conditions improve,’ she added. Cordiant Digital Infrastructure said the dividend target for the financial year to March 31 is 4.2p, which would be unchanged from a year prior. The company will be hosting a capital markets day on March 25. Copyright 2025 Alliance News Ltd. All Rights Reserved.
|
