Pantheon Infrastructure NAV rises 6.5pc in first half

(Sharecast News) - Pantheon Infrastructure reported a 6.5% increase in net asset value (NAV) to £535m for the six months ended 30 June on Thursday, or 113.9p per share. The London-listed company's net asset value total return for the period was 8.5%, driven by investments and commitments totaling £526m across 13 assets in various infrastructure sectors.

During the period, the firm increased its dividend target by 5% to 4.2p per share, with the first interim dividend of 2.1p per share to be paid on 25 October.

Pantheon also executed £2.75m in share buybacks, contributing to a 0.2p increase in net asset value per share.

The company said its portfolio was diversified across several key sectors, including digital infrastructure, comprising wireless towers, data centres, and fibre-optic networks, alongside power and utilities, renewables and energy efficiency, and transport and logistics.

That included assets in electricity generation, gas transmission, smart infrastructure, and various logistics facilities such as ports, rail, and airports.

"I am pleased to present our interim report - PINT has once again demonstrated strong performance over the last six months with an 8.5% net asset value total return as at the end of the first half of 2024," said chair Vagn Sørensen.

"In light of this, we have made the decision to increase the dividend by 5% to 4.2p per share which demonstrates our confidence in, and commitment to, the portfolio strategy. Infrastructure remains a key driver of economic growth, and the need for investment into new infrastructure is arguably stronger than ever.

"Looking forward, we are well placed to capitalise on this, and remain focused on maintaining the performance of the company, with a strategy which seeks to generate attractive risk-adjusted returns by constructing a diversified portfolio of high-quality assets across the global infrastructure investment universe."

At 0826 BST, shares in Pantheon Infrastructure were up 0.67% at 85.57p.

Reporting by Josh White for Sharecast.com.