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HICL Infrastructure PLC on Wednesday said its half-year profit more than doubled after a significant rise in the company’s investment income. The London-based closed-ended infrastructure investment company HICL said that pretax profit, for the six months ended September 30, more than doubled to £119.5 million from £45.0 million. This was due to a shift to a £37.4 million net gain from a £33.2 million net loss on the revaluation of the investment in the company’s entity subsidiary, Luxco. As a result, the total investment income more than doubled to £47.2 million from £122.4 million, driving up the bottom line. Earnings per share nearly tripled to 6.1 pence from 2.2p. Net asset value per share fell 0.3% to 156.0p from 156.5p a year ago. It rose 1.9% from 153.1p at March 31, which the company attributed to ‘operational outperformance from growth assets, an uplift in actual inflation and higher inflation expectations improving future cash generation within the portfolio.’ HICL declared an interim dividend of 2.09p, up 1.5% from 2.06p a year ago. The company said its growth assets operational performance was in line with expectations, noting in particular contributions from Affinity Water Ltd, Fortysouth and Altitude Infra. Looking ahead, HICL said it will continue to assess new opportunities across sectors and geographies. On Monday, HICL had announced on Monday said it had agreed to a merger with Renewables Infrastructure Group Ltd, creating an investment firm with net assets above £5.3 billion, putting it on course for possible entry to the FTSE 100. Shares in HICL rose 0.5% to 109.76 pence on Wednesday morning in London. Copyright 2025 Alliance News Ltd. All Rights Reserved.
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