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ARTICLES

Interim results for the six months to 30 September 2006


“Good performance driven by strong realised profits” 
  • Total return of 9.3% (£374 million) for the first six months 
  • Realised profits of £216 million, up 14% over the same period last year
  • Good level of investment at £589 million (£700 million including co-investment funds)
Commentary
  • Buyouts and Growth Capital have delivered very strong gross portfolio returns of 19.8% and 14.2% respectively for the period
  • Venture Capital delivered a negative gross portfolio return of (8.4)%, largely as a result of the mark-to-market valuation of its quoted portfolio
  • SMI delivered another good performance, generating £118 million of cash proceeds and a gross portfolio return of 13.7% for the period
Commenting on the results, Baroness Hogg, Chairman of 3i Group plc, said:
"3i has delivered another good performance of 9.3% on opening shareholders’ funds in the half year and is positioned well against the current market opportunity.”

3i’s Chief Executive, Philip Yea, added:
“We are pleased with the results for the first six months and believe that they confirm our continued progress on delivering our near and long-term agendas.

We see little change in our major markets and expect to report further progress over the coming period. At this stage the Group is on track to deliver growth in new investment over the whole year."




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