No recommendation
No news or research item is a personal recommendation to deal. Hargreaves Lansdown may not share ShareCast's (powered by Digital Look) views.
(Sharecast News) - 3i Group said on Thursday that like-for-like sales at Dutch discount retailer Action grew in the year to date, as it gave a brief update on the performance of its largest portfolio holding.
As at 21 June, Action's LFL sales growth was 3.3% year to date, it said. In an update in May, 3i had said that Action's LFL sales rose 2.4% in the 19 weeks to 10 May.
3i said new store openings of 105 are on track with Action's expansion plans for 2026. It also said that Action is set for a good quarter of profit growth and had a cash balance of 699m as at 21 June after the payment of a 450m dividend to all shareholders in May.
"The remainder of the private equity portfolio continues to demonstrate good momentum in line with our expectations," it said.
At 0811 BST, 3i shares were up 9.6% at 2,492p.
See latest RNS on Investegate
The value of investments can go down in value as well as up, so you could get back less than you invest. It is therefore important that you understand the risks and commitments. This website is not personal advice based on your circumstances. So you can make informed decisions for yourself we aim to provide you with the best information, best service and best prices. If you are unsure about the suitability of an investment please contact us for advice.