2010 Annual Results

RNS Number : 9688D

International Public Partnership Ld

31 March 2011

 



31 March 2011

2010 ANNUAL Results

International Public Partnerships Limited (INPP), the listed infrastructure investment company, which invests in global public infrastructure projects developed under the public private partnerships (PPP) and private finance initiative (PFI) procurement methods, today announces annual results for 2010.

Highlights

· Net Asset Value (NAV) of £541.9 million as at 31 December 2010 (£420.2m - 31 December 2009)

· NAV per share of 113.1p (112.1p - 31 December 2009)

· Profit before tax of £15.9m (£11.4m - 31 December 2009)

· Full Year Dividend of 5.70p per share (5.55p per share - 31 December 2009) 

· Successful raising of over £100m of additional capital during 2010

· Six investments completed in 2010 with an exceptional pipeline of further opportunities for 2011

· £23m of new investments completed in 2011 to date, including the pathfinder Ofgem offshore transmission project at Robin Rigg and nine new investments announced separately today

· Total shareholder return since inception of 40.7% (FTSE 250 - 24.4%)

Giles Frost, Director, International Public Partnerships Limited, said:

"I'm delighted to announce another robust set of full year results, underpinned by a steady growth in both profits and revenue for the Company. The portfolio has continued to perform well against a backdrop of political change and spending cuts. Our success in entering the offshore transmission market has been particularly pleasing and we look forward to the healthy pipeline of investment opportunities already outlined for 2011."

The Board of Directors of International Public Partnerships Limited, commented:

"An excellent set of results has once again highlighted the group's unique portfolio diversification and unrivalled asset management capability. INPP's strong long-term relationships with its public sector clients has been crucial amidst political change and I'm delighted that the group can once again provide shareholders with an increase in dividend and steady capital growth."

INPP will be holding a results briefing at 9:30am today at Financial Dynamics - Holborn Gate, London WC2A 1PB. For those investors and analysts who cannot attend in person, a conference call facility will also be available. The dial-in number for the call is [phone], and the confirmation code is 2994719.     

A copy of the results presentation can be downloaded from the Company's website:

www.internationalpublicpartnerships.com

For further information:

Bianca Francis                                                 [phone]

Amber Fund Management Limited                                

Hugh Jonathan/Nick Westlake                            [phone]/1345

Numis Securities       

Ed Gascoigne-Pees/Ed Berry                              [phone]/7297
Financial Dynamics

Notes to Editors:

About International Public Partnerships (INPP):

International Public Partnerships (INPP) is a listed infrastructure investment company which invests in global public infrastructure projects developed under the public private partnerships (PPP) and private finance initiative (PFI) procurement methods.

Listed in 2006, INPP is a long-term investor in 60 social and transport infrastructure projects, including schools, hospitals, courts and police headquarters in the UK, Europe, Australia and Canada. INPP seeks to provide its shareholders with both a long-term government-backed yield and capital growth through investment across both construction and operational phases of 25-40 year concessions.

Amber Infrastructure Group (Amber) is the Investment Advisor to INPP and consists of 50 dedicated infrastructure specialists which originate and source a strong pipeline of projects for INPP.

Click on, or paste the following link into your web browser, to view the associated PDF document.

http://www.rns-pdf.londonstockexchange.com/rns/9688D_-2011-3-30.pdf 

 

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