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 move 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 bought 30,000 shares in the FTSE 100 private equity giant at £33.667 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 the highly-rated shares to around 20%.
Land Securities (LAND) lifts its full-year guidance after earnings per share rose 3.2% to 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 EPS could grow to about 62p up from 60p.
