Highlights

  • 3i Group shares surged 11% in a day, followed by its Q3 FY26 Performance update.
  • 3i Group’s NAV per share increased to GBX 3,017 as on 31 December 2025, delivering a 20% total return over nine months.
  • Portfolio activity generated GBP 1.8 billion in realised proceeds and dividends, alongside GBP 1.6 billion of investments.
  • Action remained the largest contributor, reporting double-digit sales growth and adding 384 net new stores over the year.
  • 3i ended the period with gross cash of GBP 995 million and gearing of 1%, supporting balance sheet flexibility.

3i Group PLC (LSE:III) shares jumped by 11.31% to GBX 3,503 in early trading session on 29 January 2026 after the company published its FY2026 third-quarter performance update for the period ended 31 December 2025. The update highlighted growth in net asset value per share, continued portfolio contributions, realisations and dividends, and a strong balance sheet.

3i reported an increase in net asset value (NAV) per share to GBX 3,017 as on 31 December 2025, compared with GBX 2,857 on 30 September 2025. The company recorded a total return of 20% for the nine months to 31 December 2025, which included a positive foreign exchange translation impact of GBP 766 million, equivalent to GBX 78 per share.

During the first nine months of FY2026, 3i generated GBP 1.8 billion of realised proceeds and dividends from its portfolio, while total investment activity during the same period amounted to GBP 1.6 billion

Portfolio Contributions and Capital Strength Shape the Quarter

Outside of its largest asset, 3i continued to see contributions from several consumer and private label businesses, including Royal Sanders and Audley Travel.

During the quarter, 3i completed the disposal of MAIT, generating proceeds of GBP 147 million. This represented a 34% uplift compared with its valuation on 31 March 2025, alongside a 2.8x money multiple and an internal rate of return of 28%

3i Infrastructure plc’s portfolio continued to trade steadily during the quarter. The 3i Infrastructure share price increased 3% over the period, closing at GBX 374 at the end of December 2025. 3i recorded a dividend receipt of GBP 18 million from 3i Infrastructure during the quarter.

On 31 December 2025, 3i Group reported gross cash of GBP 995 million and gearing of 1%, reflecting its balance sheet position at the end of the reporting period.

Action Performance and Ownership Update

Action remained a key contributor within the portfolio. Over the 52 weeks to 28 December 2025, Action generated GBP 16,000 million in net sales and GBP 2,367 million in operating EBITDA, representing increases of 16% and 14% compared with 2024. After adjusting for a one-off staff payment of GBP 26 million, operating EBITDA totalled GBP 2,393 million.

Action added a record 384 net new stores during the year, equating to 13% store growth, while like-for-like sales increased 4.9%. Like-for-like sales for the first four weeks of January 2026 rose 6.1%, including 2.1% growth in France.

Following Action’s capital restructuring in October 2025, 3i received GBP 944 million in gross proceeds and reinvested GBP 755 million to increase its stake to 62.3%. Action also paid a GBP 246 million dividend in December 2025 and ended the year with GBP 807 million in cash.