Plus   Neg

INPP H1 IFRS Pre-tax Profit Down

Infrastructure investment company International Public Partnership (INPP.L) Thursday reported lower pre-tax profit for the half year, reflecting lower valuation of the portfolio overall due to uncertainty caused by Covid-19 as well as BeNEX transaction recognised in the prior period.

For the first half, the Group's IFRS profit before tax fell to 35.4 million pounds from last year's 83.7 million pounds. On a per share basis, earnings were 2.21 pence versus 5.64 pence last year.

Total income of the Group for the half year reached 51.5 million pounds, lower than last year's 100.4 million pounds.

In addition, the Group declared an interim dividend increase of 2.5 percent to 3.68 pence per share.

For comments and feedback contact: editorial@rttnews.com

Business News

Editors Pick
Intel Corp. said it is probing into the hack of its fourth-quarter earnings report that prompted the chipmaker to release its earnings statement ahead of schedule. The company, which was scheduled to release the results after the market closed, released it before the market closing on Thursday. Google parent Alphabet decided to drop its Internet balloon project Loon that was launched with the idea of providing Internet access to rural areas and providing last mile connectivity. In a blog post, Loon CEO Alastair Westgarth said they have not found a way to get the costs low enough to build a long-term, sustainable business, despite gaining a number of interested partners along the way. American Airlines announced the launch of Flagship Cellars, its home delivery service for premium wines usually available onboard. The airline's move is said to be due to the excess wine it has amid the weakness in air travel demand following the coronavirus pandemic crisis. The company expects the new at-home wine program to generate about $40,000 to $50,000 in sales during the first quarter.
Follow RTT