Key highlights
Strong and measurable progress in implementing the restructuring announced in June
On track to meet the announced cost and debt reduction targets
Steady overall returns, driven by improved performance in Private Equity and steady contributions from Infrastructure and Debt Management, partly offset by restructuring costs
Realisations and investment activity has been low in subdued M&A markets
NAV per share has been resilient at 273p at 30 September 2012 compared to 279p at 31 March 2012
Interim dividend of 2.7 pence per share, same level as last year.
Simon Borrows, 3i's Chief Executive, commented:
"Since the announcement of 3i's future strategy in June, we have wasted no time in implementing the significant organisational and cultural changes that are needed.
"As a result, we have made strong and measurable progress against the immediate priorities and targets that we set out in June, and the Group has delivered steady overall performance in the first half in what remain challenging economic conditions and subdued markets.
"There is much more to do and we will continue to work hard to drive improved performance across our business.
"Our strategic goal is to be a leading international investor in mid-market private equity, infrastructure and debt management, and to deliver top quartile cash investment returns over the longer-term."
