|
HICL Infrastructure PLC on Wednesday said profit grew 50% during its most recent financial year despite a decline in net asset value, as its total return falls just short of expectations. The London-based closed-ended investment company said its net asset value per share at March 31 was 153.1 pence, down 3.2% from 158.2p a year prior. Pretax profit rose 50% in the year that ended March 31 to £46.0 million from £30.6 million the year before, as total investment income grows 42% to £50.0 million from £35.2 million. The firm delivered an annualised underlying return of 7.7%, against a 9.0% return the prior year and falling slightly short of its expected 8.0% return for the year. ‘Affinity Water and the growth assets outperformed expectations, substantially offsetting the negative impacts of lower real inflation in the UK and Europe and the recognition of increased forecast cost risk across a subset of UK PPP assets,’ HICL explained. HICL declared a total dividend of 8.25 pence per share, unchanged from the year prior, and guided for a 8.35p total dividend for financial 2026. For financial 2027, HICL targets a 8.50p dividend payout. Earnings per share for the year were up 53% on-year to 2.3p from 1.5p. ‘The company’s share price performance continues to be disappointing. This is despite another year of solid operating results and actions taken to address the discount,’ said Chair Mike Bane. ‘I am confident that through disciplined execution of our strategy the company will continue to demonstrate financial robustness and operational excellence thus proving its inherent value.’ Shares in HICL were down 0.6% at 114.36 pence each in London on Wednesday morning. The stock is down 7.3% over the past year. Copyright 2025 Alliance News Ltd. All Rights Reserved.
|
