3i Infrastructure asset values hold steady

British infrastructure group 3i Infrastructure said the value of its investments held steady in the first half as its portfolio companies continued to perform and deliver strong yields.

The separately-listed sister company to 3i Group said that diluted net asset value (NAV) per share stood at 110.8 pence at end September compared with 111.3 pence the previous year. It increased its interim dividend to 2.2 pence from 2.1 pence.

“3i Infrastructure’s portfolio continues to perform robustly and to deliver a strong yield,” said chairman Peter Sedgwick.

“The company has a pipeline of attractive investment opportunities, but will maintain investment and pricing discipline as it invests its cash resources,” he added.

The group repeated its statement from October in which it said it was encouraged by the deal pipeline for the second half but warned that market volatility continues to threaten completion of potential transactions.