LONDON, June 25, 2026, 10:02 BST
- 3i shares gained 9.5% to 2,488 pence early today.
- Action posted 3.3% like-for-like sales growth year-to-date through week 25 and opened 105 stores, according to a report.
- Taking the 2.4% rate at week 19 leads to roughly 6.2% growth over the last six weeks.
3i Group plc (LON:III) shares jumped roughly 9.5% Thursday after the private-equity firm said its Dutch discount retailer Action is heading for a solid profit quarter, even as year-to-date sales growth falls short of the yearly goal. 3i was the top gainer on the FTSE 100 in early trade.
Action reported like-for-like sales growth of 3.3% through week 25, which closed June 21. CEO Simon Borrows said Action is on track for “a good quarter of profit growth.” Borrows also said the rest of 3i’s private equity portfolio showed “good momentum in line with our expectations.” After paying a €450 million dividend in May, Action had €699 million in cash left. 3i
The year-to-date figure hides a bigger swing lately. Action said it saw 2.4% growth through week 19 as of May 10. That climb to 3.3% by week 25 puts growth at about 6.2% for weeks 20 to 25, if you use a straight equal-week calculation. The company hasn’t given a separate number for that period. Actual growth could be different since weeks vary in sales volume.
Action represented 75% of 3i’s portfolio by value at March 31 and was listed at £23.7 billion. So tweaks to sales or profit forecasts for Action end up shifting the bulk of 3i’s net asset value estimates.
Action’s year-to-date growth is still behind its 2026 target. The company posted a 3.3% rate so far this year, missing its full-year goal of 4% to 5% growth. Store openings picked up, moving from 69 at week 19 to 105 at week 25—about six new locations a week. Action would need to more than double that pace to hit its goal of at least 400 openings by week 52, or close to 11 a week. 3i said back in March that store launches would skew more to the second quarter.
3i’s rally is impacting its £750 million buyback. The group had repurchased 9.75 million shares for £216.8 million by June 21, averaging around £22.23 each. With shares at £24.88 on Thursday, the remaining £533.2 million would buy about 21.4 million shares if the price holds. That’s about 2.6 million fewer shares than at the earlier average price.
3i came under pressure from the market after its May update drew attention to its heavy exposure to Action. Dan Coatsworth at AJ Bell said 3i was “too reliant on a single holding” and had lost the benefit of the doubt. “That goodwill has now disappeared,” he said. London South East
3i shares bounced Thursday, but only clawed back some of the loss. The stock was at 2,488 pence, still down around 45% from its £44.97 peak on October 27, 2025.
3i will report its next Q1 performance update on July 23.
