- Infrastructure investor 3i Infrastructure reported a fall in total income for the six months through September as the valuation of air-travel-related portfolio companies was impacted by the pandemic.

From 1 April 2020 to 29 September 2020, portfolio income and non-income cash was £47 million, compared with £51 million in the same period last year.

The company said it was on track to deliver its dividend target for the year ending 31 March 2021 of 9.80 pence per share, a year-on-year increase of 6.5%.

'Portfolio companies have met or exceeded the expectations we set at the start of the period, although lower power price forecasts, ongoing effects of the pandemic and the slow recovery in air travel will affect some portfolio company valuations at the half year end,' the company said.

'We note the prolonged effects of the pandemic on the air travel sector, which will have an effect on TCR; and the reduction in power price expectations which will affect the value of Attero and Infinis, despite strong operational performance by both companies in the period,' it added..

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