3i's half year results showed the group's gross portfolio return fell to -8.3 percent in the six months to 30 September. 3i chief executive Michael Queen laid the blame for the fall in value of the group's portfolio squarely at the foot of market conditions – “We have not been immune to the broader market turmoil and the challenging environment has had a direct impact on our results,” he said in a statement.
3i dividend increase fails to mask loss
UK-listed 3i attempted to placate investors by announcing a substantially increased dividend during its half year results presentation Thursday morning, as it revealed its portfolio had fallen in value by £523m.
