Equity investment firm the PFI Infrastructure Company made a pre-tax profit of £2.5 million on a turnover of £7.3 million in its first year of operation.
Reporting its maiden results today, the Alternative Investment Market-listed business said it made good progress in its first year and plans to further expand its portfolio in the coming 12 months.
The firm began trading in July last year and raised £47 million through a share placing on AIM. At the same time it acquired an initial portfolio of 14 investments in PFI special purpose companies for £21.45 million. That portfolio is now valued at £23.7 million, with stakes in health and education projects.
It mainly targets accommodation deals where the revenue stream from the public sector is not 'subject to variation according to the level of demand' the company said.
Investments are categorised into two streams; primary investments where it holds a stake from the beginning of the project and secondary investments where it buys out an existing investor, after the building is completed.
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