Interim results for the six months to 30 September 2005
"Strong all-round performance"
Total return of 12.1% (£447 million) for the first six months
Over £1 billion of realisations
Good level of investment of £706 million, up from £422 million
Buyouts and Growth Capital both delivered good returns of 13% during the period, with improved performance in the Venture Capital business, which generated an 8% return
SMI delivered an excellent performance generating £161 million of cash proceeds and a return of 12% over the period
£443 million of the £500m return of capital programme was completed at 9 November 2005
Further good progress was made on our strategic development with the opening of offices in China and India and launching our infrastructure investment business
Commenting on the results, Baroness Hogg, Chairman of 3i Group plc, said:
"3i achieved further good progress in the first half of this financial year, with investment and realisations both above last year''s levels."
3i''s Chief Executive, Philip Yea, added:
"On the back of a strong all-round performance in the first half, we have made a good start to the second half both in terms of new investments and realisations. There has also been considerable progress on our agenda of developing the business for the longer term."
For further information regarding the announcement of 3i''s annual results to 31 March 2005, including video interviews with Philip Yea and Simon Ball (available 7.15am) and a live webcast of the results presentation (at 10.00am, available on demand from 2.00pm), please see http://www.3igroup.com/
For further information, please contact:
3i Group plc
Philip Yea, Chief Executive - 020 7975 3386
Simon Ball, Finance Director - 020 7975 3356
Patrick Dunne, Group Communications Director - 020 7975 3283
Philip Gawith - 020 7379 5151
Notes to editors
3i is a world leader in private equity and venture capital. We focus on buyouts, growth capital and venture capital and invest across Europe, in the United States and in Asia Pacific. Our competitive advantage comes from our international network and the strength and breadth of our relationships in business. It underpins the value that we deliver to our portfolio and to our shareholders.