Foresight Environmental Infrastructure (FGEN) says it derives 29% of its revenues from the UK’s renewable obligation (RO) and feed-in tariffs (FIT). Initial analysis by its investment manager of the government’s proposals to change the inflation measure in the incentives to CPI from RPI shows option one – a simple switch next March – would reduce net asset value per share by 0.5p or 0.5%. The more radical second option for freezing RPI-based payments until CPI-based payments catch up would knock NAV per share by 6.6p or 6.3%. These figures are based on an assumed flat rate of CPI at 2.25%.
3i Group (III) chief executive Simon Borrows yesterday bought 30,000 shares in the FTSE 100 private equity giant at £33.67 per share as the price tumbled nearly 18% following half-year results showing a slowdown in discount retailer Action, its dominant investment. The decline more than halved the premium on 3i’s highly-rated shares to around 20%.
Land Securities (LAND) lifts its full-year guidance after earnings per share rose 3.2% to 25.8p in the half-year to 30 September, driven by 5.2% growth in like-for-like income and a further 6% reduction in costs that supported a 2.2% rise in the interim dividend. It now expects like-for-like net rental income for the 2026 financial year to grow 4%-5%, up from its previous 3%-4% guidance. By 2030 it says EPS could grow to about 62p up from 60p.
HICL Infrastructure (HICL) has brought forward its half-year results from from Thursday
27 November to next Wednesday after apparently realising the original time was the day after the Budget which it thought was not ideal.
Bluefield Solar Income (BSIF), the £438m renewables fund that has put itself up for sale this month and revealed a potential 10% hit from the government’s indexation reform, says net asset value fell 2.2% in the third quarter. NAV per share declined 2.56p to 114p at 30 September largely due to the 12%-yielder’s latest dividend payment, grid curtailments power generation below budget.
Menhaden Resources Energy (MHN) is preparing to make a final distribution of 24.85p before liquidating after selling its final two unquoted holdings and generating net proceeds of £17.4m.
LondonMetric (LMP), the acquisitive logistics real estate investment trust, has increased its stake in Schroder Real Estate (SREI) to 11% from the 9.5% disclosed last month.
