(Alliance News) - Public infrastructure investment company International Public Partnerships Ltd said Wednesday its portfolio continues to perform well, with revenue and cash in line with management expectations.
The portfolio currently has 10.4% of assets still in physical construction, INPP said. The weighted average investment life of the portfolio is currently 34 years with a weighted average debt tenor of 32 years. At September 30, the investment company had interests in 130 projects.
Of those 130 projects, 73% are in the UK, followed by 8.7% in Belgium and 8.6% in Australia. In terms of sectors, 22.3% of the projects are in Energy Transmission, with 19.9% in Transport and 17.6% in Education.
At June 30, INPP reported a NAV per share of 150.3 pence, however, since that date, government bond yields have decreased in all jurisdictions in which the company is invested, INPP said. The decrease in government bond yields "could be expected" to have a positive impact on the company's NAV.
Looking ahead, INPP said the "appetite for long-term responsible investment into public and social infrastructure remains high".
The company continued: "There continues to be a positive outlook for private sector investment into public infrastructure across the geographies that the company invests in. Whilst the company acknowledges that there is an element of uncertainty in the current political landscape, we continue to monitor these risks such as emerging policies of the UK opposition party to nationalise certain infrastructure in the UK."
INPP said the pipeline for the assets it typically invests in is "positive", and remains confident in its ability to source and develop "high-quality, well-performing" opportunities that meet the company's risk profile.
Shares in the FTSE 250-listed firm were marginally lower in London on Wednesday morning at 160.62 pence each.
By Paul McGowan; paulmcgowan@alliancenews.com
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International Public Partnerships (INPP)