Cordiant Digital net assets dip; maintains positive outlook

(Alliance News) - Cordiant Digital Infrastructure Ltd on Wednesday reported a slight decrease in ...

Alliance News 29 November, 2023 | 10:02AM
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(Alliance News) - Cordiant Digital Infrastructure Ltd on Wednesday reported a slight decrease in its net asset value but said it is looking towards the rest of the financial year confidently due to a strong portfolio.

Cordiant is an investment firm focused on digital infrastructure assets.

Net asset value per share at September 30 was 112.7 pence, down 0.6% from 113.4p at March 31, due to the payment of the 2.0p per share second interim dividend in July 2023, Cordiant Digital explained. NAV total return was 1.1%.

For the half year ended September 30, Cordiantn Digital declared an interim dividend of 2.0p per share, unchanged from a year ago.

Looking ahead, Cordiant Digital said that the recent acquisition of Speed Fibre, which it bought in Octover for EUR97.2 million, is "additive to the portfolio as it offers additional cashflows, growth potential and further diversity in geography and asset class". The company said it is well positioned, and looks forward to the second half of the year "with confidence".

Chair Shonaid Jemmett-Page said: "I am pleased to report a solid performance by the company for the first six months of the year, despite the challenging economic conditions during the period...The strength of the portfolio has been achieved with a conservative level of debt and through a disciplined acquisition strategy."

Shares in Cordiant Digital rose 0.5% to 71.35 pence each in London on Wednesday morning.

By Sabrina Penty, Alliance News reporter

Comments and questions to newsroom@alliancenews.com

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Securities Mentioned in Article

Security Name Price Change (%) Morningstar
Rating
Cordiant Digital Infrastructure Ord 66.00 GBX 1.54 -

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