Portfolio Value increased 41.3% to £537.4 million including acquisitions and investments
Underlying growth in Portfolio Value of 8.5% - ahead of expectations
NAV increased 22.8% to £542.4 million including equity raised
NAV per share up 1.1% to 105.7 pence
Continued strong cash flows, with £8.3 million net cash as at 31 December 2012
Increased dividend announced of 3.125p (up 4.2%) being 6.125p for the full year
Profit after tax of £32.5 million on an investment basis
Increase in IFRS Net Assets of 17.0% to £522.4 million including equity raised
Operational Highlights
Two successful capital raisings, for a combined 86.1 million new shares, raising an additional £91.4 million in 2012
Acquisition of 7 new assets, 4 incremental stakes and one additional investment in existing assets, totalling £155.6 million
Successful refinancing of debt facility, increased to £150 million for 3 years
Strong pipeline of secondary market opportunities available to JLIF
Commenting on today's results, Paul Lester, Chairman of JLIF, said:
"JLIF has made significant progress in its second full year of trading, raising over £91 million of additional capital and adding over £155 million to the Portfolio Value through acquisitions and investments. JLIF continues to create value for its shareholders, expanding its international presence while maintaining a stable and steady yielding investment.
Today's announcement reflects the continued success of the JLIF model, delivering another robust performance. The increase in dividend per share demonstrates the Board's on-going confidence in the stability of future cash flows."
