Interim results for the six months to 30 September 2004

04 Nov 2004

"Strong performance and good momentum"

  • Total return of £231 million
  • Significant increase in investment activity
  • Strong realisation proceeds of £603 million

Interim results for the six months to 30 September 2004

Total return £231m
Return on opening shareholders funds 7.2%
Revenue profit before tax £84m
Realisation proceeds £603m
Realisation profits on disposal of investments £95m
Unrealised profits on revaluation of investments £118m
Investment (including co-investment funds) £521m
Diluted net asset value per share (post interim dividend) 568p
Interim dividend 5.3p

 

Highlights

  • Total return of £231 million, which represents a 7.2% return on restated opening shareholders' funds and compares with 5.1% for the FTSE All-Share and 6.0% for the FTSE 100 total return indices in the same period
  • Investment of £521 million (including co-investment funds), which compares with £273 million for the same period last year
  • Realisation proceeds of £603 million, which compares with £503 million for the same period last year

Baroness Hogg, Chairman of 3i Group plc, said: 

"This strong performance and good momentum confirm that the changes made to the business over the last few years are bearing fruit."

3i's Chief Executive, Philip Yea, said: 

"Our strategy plays to our competitive strengths. I am encouraged by the opportunities for growth. My objective is to build on the significant changes implemented at 3i over the past few years by ensuring that we use our scale with greater agility."

For further information regarding the announcement of 3i's interim results to 30 September 2004 please see http://www.3igroup.com/

For further information, please contact:

3i Group plc
Philip Yea, Chief Executive -  020 7975 3386
Michael Queen, Finance Director -  020 7975 3400
Patrick Dunne, Group Communications Director -  020 7975 3283

Maitland Consultancy
Philip Gawith -  020 7379 5151

Notes to editors
3i is a world leader in private equity and venture capital. We focus on buy-outs, growth capital and venture capital and invest across Europe, in the United States and in Asia Pacific.

Our competitive advantage comes from our international network and the strength and breadth of our relationships in business. It underpins the value that we deliver to our portfolio and to our shareholders.