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GCP Infrastructure Investments Ltd on Thursday said net asset value per share for the full year was up, as income also doubles.
The Jersey, UK-based investment fund focused on UK infrastructure projects said NAV per share for the year ended September 30 was 112.80 pence, up 8.5% from 103.92p the year prior. The company said a third party had valued its partially inflation-protected investment portfolio at £1.1 billion.
Total income for the full year was £157.5 million, doubling from £76.9m the year before, while the company declared a total dividend for financial 2022 of 7.0p per share, unchanged from a year ago.
The company reported a pretax profit of £145.0 million, more than doubling from £66.2 million a year ago. The company said the increase was down to ‘revaluations in respect of high near-term electricity futures prices’.
Chair Andrew Didham said: ‘Achieving a net zero electricity system by 2035, and a net zero economy as a whole by 2050, will require significant investment in new infrastructure. The board remains optimistic about future investment opportunities and the company has an active pipeline of about £473.0 million of investment opportunities under consideration.’
‘The company’s portfolio continues to make a positive impact, through contributing towards the generation of renewable energy and financing infrastructure that has clear benefits to end users through fulfilling core environmental and social purposes,’ Didham said.
GCP shares were virtually flat at 98.00p per share on Thursday morning in London.
By Harvey Dorset, Alliance News reporter
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