LONDON (dpa-AFX) - International Public Partnerships Limited (INPP.L), a British investment company, Thursday reported profit before tax of 16.67 million pounds for the first half, significantly higher than 259,000 pounds in the same period a year ago, primarily helped by higher interest income as well as dividend income, and also lower loss on investments.
Net change in investments at fair value was a loss of 55.34 million pounds compared with 67.12 million loss last year.
Net profit increased to 16.61 million pounds or 0.87p per share from 220,000 pounds or 0.01p per share a year ago.
Interest income for the period grew to 55.86 million pounds from 51.69 million pounds in the previous year, and dividend income was 35.99 million pounds, up from 34.01 million pounds.
Total investment income declined to 36.51 million pounds from 18.58 million pounds last year.
Net asset value as on June 30 was 2.8 billion pounds or 149.5p per share compared with 2.9 billion pounds or 152.6p as on December 31, 2023.
The company has declared an interim dividend of 4.18 pence per share for the six months to 30 June 2024. This is expected to be paid in December.
Looking ahead, INPP has reconfirmed its 2024 dividend target of 8.37 pence per share, 3 percent growth from last year.
Copyright(c) 2024 RTTNews.com. All Rights Reserved
Copyright RTT News/dpa-AFX
© 2024 AFX News
