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Foresight Environmental Infrastructure Ltd on Friday said its interim net asset value per share fell compared to the start of the period, but maintained that it will meet its full-year dividend target. The Guernsey-registered environmental infrastructure investment fund with a portfolio of assets located across the UK and Europe said NAV per share stood at 104.7 pence at September 30, falling 1.7% from 106.5p on March 31. The NAV total return for the six-months was 2.0% after the payment of dividends, compared to 0.04% for the same six-month period a year ago. Discount to NAV was approximately 38%. FGEN swung to a pretax profit of £9.5 million from a loss of £0.5 million a year ago, driven by a 24% lower net loss on investments held at fair value with operating income and gains on fair values of investments doubling. The company declared a second-quarterly dividend of 1.99p per share, unchanged from the first quarter. This compares to a 3.90p half-year dividend last year. FGEN said it is on track to deliver the full-year dividend target of 7.96p per share, which would represent a yield of 12% on the current share price. FGEN said it still on course to ‘maintain or improve’ performance for the rest of the financial year. ‘While the market backdrop has been disappointing, FGEN’s underlying performance during the period has been strong,’ Chair Ed Warner said. ‘Looking ahead, we are confident in our portfolio’s combined ability to deliver long-term predictable income for investors alongside attractive upside potential from our growth assets. We remain optimistic about the structural drivers underpinning the green economy. We continue to be fully committed, alongside our investment manager, to closing the discount to NAV and ensuring that FGEN’s share price more accurately reflects the intrinsic value of its portfolio.’ Shares in FGEN rose 1.1% to 67.30p on Friday morning in London. Copyright 2025 Alliance News Ltd. All Rights Reserved.
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