REG - 3i Group PLC - AGM and portfolio update

3iAnnouncement

30/06/2022 07:16

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RNS Number : 7187Q  3i Group PLC  30 June 2022

30 June 2022

 

3i Group plc

AGM and portfolio update

 

3i Group plc ("3i") will be holding its Annual General Meeting ("AGM") this
morning. At the AGM Simon Borrows, our Chief Executive, will provide an update
on the portfolio.

 

Action has achieved very strong sales growth in the year to date.
Like-for-like sales and footfall were significantly ahead of the prior year,
although with a slightly reduced basket size. Inventory and supply chain
continue to perform in line with plan with no significant issues despite the
well documented global challenges. A clear and consistent focus on an
outstanding quality customer offering at the lowest price continues to be
Action's top priority and has never been more relevant to customers across all
of its geographies. Action is set for another good quarter of profit growth to
the end of June and closed last week with a cash balance of some €550
million.

 

The remainder of the Private Equity portfolio continues to demonstrate overall
resilience with the majority of the portfolio continuing to build on recent
growth including Cirtec, Sanisure, nexeye (formerly Hans Anders), Tato, Havea,
WilsonHCG and Yanga. As would be expected given current market conditions, a
small number of companies in the portfolio are having to manage a combination
of lower customer demand and inflationary pressures.

 

Despite short-term market volatility and macro-economic uncertainty our
portfolio is well positioned and we increasingly see attractive opportunities
to deploy capital. We remain confident in 3i's potential to deliver
significant longer-term compounding returns.

 

-Ends-

 

For further information, please contact:

Silvia Santoro

Group Investor Relations Director

Tel: 020 7975 3258

 

Kathryn van der Kroft

Communications Director

Tel: 020 7975 3021

 

 

About 3i Group

3i is a leading international investment manager focused on mid-market Private
Equity and Infrastructure. Our core investment markets are northern Europe and
North America. For further information, please visit: www.3i.com
(http://www.3i.com) .

 

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