3i Group updates on portfolio ahead of capital markets seminar

Private equity firm 3i Group provided investors with an update on its portfolio on Monday ahead of its capital markets seminar later in the day.

3i stated its investment portfolios in private equity and infrastructure had continued to make "good progress" year to date, with the company confirming strong performances in the significant majority of its investments, including its healthcare, retail and e-commerce and value-for-money company investments.

The FTSE 100-listed firm said portfolio company Action's "impressive performance" had also continued, with sales, underlying earnings and cash generation all above budget for the third quarter and year-to-date sales at over €4.5bn more than 20% ahead of last year.

3i expects LTM EBITDA to the end of September to be over €760.0m, compared to €579.0m at the same time a year earlier and €506.0m at September 2019.

Cash generation was also said to have continued to be strong, with a current cash balance of approximately €900.0m.

As of 0900 BST, 3i Group shares were up 0.27% at 1,304.0p.