3i makes solid progress

Faced with big investment losses last year, private equity investor 3i (III) made steady progress in the first half while also reducing its cost base. Around one third of the group's headcount will be cut by March next year and the number of offices will be reduced from 19 to 13. Annualised cost savings are expected to reach £40m by March, rising to £45m a year later. Add that to an improved investment performance and the discount to net assets that the shares currently trade at could narrow.

To continue reading, register today

to enjoy limited access to the following:

  • Daily trading news
  • Funds coverage
  • Features on big investment themes
  • Comprehensive companies coverage
  • Economic analysis
Subscribe to Investors Chronicle

Related topics

Subscribe today

Full access for just £3.37 a week:

• Tips and recommendations - to beat the market 
• Portfolio clinic & Mr Bearbull - build a well-planned portfolio 
• Expert tools - track and manage investments effortlessly
• Plus free delivery to your home or office

Subscribe Now