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HICL Infrastructure FY Pretax Profit Rises; Affirms Dividend Targets

HICL Infrastructure plc (HICL.L) reported that it delivered a strong NAV uplift of 7.9 pence versus the prior year, total return ahead of expectations at 10.8% and dividend growth of 2.5%. NAV per share increased by 5% to 157.5 pence as at 31 March 2019.

Profit before tax was 285.4 million pounds for the year to 31 March 2019 compared to 121.8 million pounds, prior year. Earnings per share was 15.9 pence compared to 6.9 pence. Total income for the period was 290.4 million pounds compared to 124.1 million pounds.

On an investment basis, profit before tax was 285.7 million pounds for the year to 31 March 2019 compared to 122.1 million pounds, while earnings per share was 15.9 pence compared to 6.9 pence. On an investment basis, income for the fiscal year was 324.1 million pounds compared to 161.7 million pounds, previous year.

The Board of HICL UK has affirmed its previous target dividend guidance of 8.25 pence per ordinary share to 31 March 2020 and 8.45 per ordinary share to 31 March 2021.

The fourth quarterly interim dividend is expected to be approved by the Board of HICL UK on 29 May 2019 and will be payable on 28 June 2018 to shareholders on HICL UK's register as at 7 June 2019.

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