Preliminary results for the year to 31 March 2010
Key points
- Total return of £407 million, a 16.2% return on opening shareholders'' funds
- Strong realisations of £1,385 million, at good average uplifts of 19% over opening carrying value
- Net debt reduced to £258 million (2009: £1,912m)
- Increase in net asset value to £3.21 (opening NAV of £2.79 at 31 March 2009)
3i''s Chairman Baroness Hogg said:
"A transformed financial position, improved performance, and a substantial increase in funds available to invest have put 3i in a strong competitive position."
Michael Queen 3i''s Chief Executive added:
"I am confident we will see some outstanding opportunities in the next three years and believe we are now well placed, with a focused business model, good liquidity and a strong balance sheet to invest in and build some great businesses."
For further information, please contact:
Michael Queen, Chief Executive
3i Group plc - Tel: 020 7975 3512
Rachel Richards
Press Office - Tel: 020 7975 3573
Suzanne Bartch
Maitland Consultancy - Tel: 020 7379 5151
For further information regarding the announcement of 3i''s annual results to 31 March 2010, including a live videocast of the results presentation from 09:45am, please see www.3igroup.com.
Notes to editors
3i is an international investor focused on buyouts, growth capital and infrastructure, investing across Europe, Asia and North America. Our competitive advantage comes from our international network and the strength and breadth of our relationships in business. These underpin the value that we deliver to our portfolio and to our shareholders.