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INPP FY Pre-tax Profit Down

International Public Partnership (INPP.L) reported that its profit before tax for fiscal year 2019 declined to 137.8 million pounds from 138.1 million pounds in the prior year.

Profit for the year was 138.17 million pounds, compared to 138.37 million pounds in the previous year. Earnings per share from continuing operations was 9.17 pence down from 9.75 pence last year.

But, total income grew to 173.52 million pounds from 167.67 million pounds in the previous year.

The company reaffirmed that the operational performance of its investment portfolio continues as expected and there has been no material change since the Market Update issued on 26 March 2020.

The company reaffirmed its target dividend for 2020 of 7.36 pence per share and provide new guidance of 7.55 pence per share for 2021.

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