Closed-ended infrastructure investment company International Public Partnerships Limited (INPP.L) on Thursday reported that its pre-tax profit for fiscal 2011 was 13.2 million pounds, lower than last year's 16.5 million pounds. The prior year results have been restated.
Net profit for the year increased to 16.1 million pounds from 15.1 million pounds a year ago.
Net Asset Value or NAV grew 15.2 percent to 624.3 million pounds and NAV per share rose to 116.9 pence from 113.1 pence a year ago.
Further, the company announced a second half distribution of 2.925 pence per share, bringing the full year dividend to a total of 5.85p per share. The Board said it intends to offer a scrip dividend alternative for this distribution.
The company also increased 2012 full year target distribution of 6 pence per share, up 2.6 percent from 2011.
Looking ahead, the company said it remains positive about the prospects in 2012.
Chairman Keith Dorrian said, "Taking advantage of the positive investment environment through our healthy pipeline of attractive investment opportunities is critical to the ongoing success of the Company and as such, we are actively considering our options with respect to raising more equity capital. We look forward to 2012 with confidence."
by RTT Staff Writer
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