3I Group sees Q2 NAV jump

(Sharecast News) - Infrastructure and private equity investor 3i posted a jump in its second quarter net asset value, thanks in part to a foreign exchange tailwind. For the three months ending on 30 June, 3i reported a 6.6% rise in its Net Asset Value to reach 2,711.0p per share, helped by a foreign exchange translation impact of £392m, or 40p per share.

"We have started FY2026 well, with the Private Equity and Infrastructure portfolios trading in line with our expectations. The MPM transaction also provided further evidence of how our active asset management can lead to material value creation over time," 3i boss Simon Borrows said.

"Action had a good first half, with trading across the majority of its key financial metrics well ahead of the same period last year, and with notable milestones achieved, including its 3000th store and a very strong start from the first five stores in Switzerland."

However, Borrows described the macro-economic and geopolitical environment as "uncertain", reason for which they were still focusing on actively managing the portfolio and remained cautious on pricing for new investment.

Action, its non-food discount retailer posted a 6.8% jump in its like-for-like sales growth year-to-date with operating profit 16% ahead at €980m.

Royal Sanders meanwhile continued to "perform well".

Audley Travel saw "strong" year-on-year departure performance.

3i Infrastructure's share price increased by 8% during the quarter while Scandlines saw "resilient" trading.

Cash at period end stood at £428m, versus £425m one year before.

As of 1236 BST shares of 3I were off by 2.07% to 4,254.0p.