Digital 9 Infrastructure posts rising net asset value and profit

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Digital 9 Infrastructure PLC said Wednesday it improved net asset value per share in its half-year results, but earnings per share were significantly lower.

The London-based digital infrastructure-focused investment fund reported an IFRS net asset value in June of £852.3m, an increase of 13% from the £755.9m recorded in December 2021.

Net asset value per share stood at 105.13p in June, up 0.5% from 104.62p in December 2021 and up 1.7% from 103.34p in June 2021 .

The company said this was due to growth in the underlying valuation of its investments.

Pre-tax profit for the period was £27.4m, a 64% improvement on the £16.7m recorded last year.

This is the result of income received from investments, as well as revaluation gains from investments.

The company declared an interim dividend of 1.5 pence for the April-June period, keeping it in line with the annual target of 6.0 pence.

However, earnings per share fell to 3.43 pence from 9.77 pence recorded in December last year.

In a difficult environment, the company noted that 69% of total recurring income in its investment portfolio has some form of inflation protection, including 58% with an uncapped CPI/RPI link.

Chairman Phil Jordan commented: “The digital transformation of our societies has been evident over the past decades, but no more so than over the past two years. The Covid-19 pandemic has dramatically accelerated key drivers and trends that are already fundamental to the growth in demand for digital infrastructure.

“I believe that due to these societal changes and the clear and urgent global requirement to grow in an environmentally sustainable manner, we are on the cusp of a much broader transformation that supports the investment case at long term of the company and provides the board of directors with confidence in its future prospects.

Shares of Digital 9 Infrastructure were trading down 0.7% at 115.56 pence apiece in London on Wednesday morning.

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