# 3i Group achieves very strong sales growth in the year to date

- Link: https://www.directorstalkinterviews.com/3i-group-achieves-very-strong-sales-growth-in-the-year-to-date/4121070788
- Published: 2022-06-30T08:28:35+01:00
- Author: Amilia Stone

**[3i Group plc](https://www.directorstalkinterviews.com/ftse-company/3i-group/iii.l)**(
LON:III) will be holding its Annual General Meeting this morning. At the AGM Simon
Borrows, our Chief Executive, will provide an update on the portfolio.

Action has achieved very strong sales growth in the year to date. Like-for-like 
sales and footfall were significantly ahead of the prior year, although with a slightly
reduced basket size. Inventory and supply chain continue to perform in line with
plan with no significant issues despite the well documented global challenges. A
clear and consistent focus on an outstanding quality customer offering at the lowest
price continues to be Action’s top priority and has never been more relevant to 
customers across all of its geographies. Action is set for another good quarter 
of profit growth to the end of June and closed last week with a cash balance of 
some €550 million.

The remainder of the Private Equity portfolio continues to demonstrate overall resilience
with the majority of the portfolio continuing to build on recent growth including
Cirtec, Sanisure, nexeye (formerly Hans Anders), Tato, Havea, WilsonHCG and Yanga.
As would be expected given current market conditions, a small number of companies
in the portfolio are having to manage a combination of lower customer demand and
inflationary pressures. 

Despite short-term market volatility and macro-economic uncertainty our portfolio
is well positioned and we increasingly see attractive opportunities to deploy capital.
We remain confident in 3i Group’s potential to deliver significant longer-term compounding
returns.

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