November 15, 2012 / 7:16 AM / 5 years ago

3i says cost, debt cutting plans on track

LONDON, Nov 14 (Reuters) - Private equity group 3i said on Thursday it was on track to meet cost and debt cutting targets, after making “strong and measurable” progress in its plans laid out in June to axe roughly a third of staff and close some offices.

The firm said asset values had dipped slightly to 273 pence per share for the three months to the end of September, from 275 pence at the end of June, but beating analyst expectations for a steeper decline to about 269 pence per share.

3i set its interim dividend at 2.7 pence per share.

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