3i Group lifts outlook with Action growth, shares rally on FTSE 100

By Thomas Klein, Operations & Strategy desk. Reviewed prior to publication on 2026-06-25, 19:42.

3i Group (GB00B1YW4409) set a clear tone for its London AGM with a trading update on Action, its key European discount retail holding, and a proposed £750 million share buyback, as the shares rally strongly on the FTSE 100 after the news according to the AGM and portfolio update.

AGM update highlights Action momentum

At the AGM in London, 3i Chief Executive Simon Borrows highlights that Action has delivered like-for-like sales growth of 3.3% in the year to 21 June 2026, an improvement on the 2.4% figure reported through 10 May 2026, underscoring a recovery in trading trends at the chain as Investing.com reports.

The update also confirms that Action is on track to open 105 new stores in 2026, supporting its European expansion across markets including France, Germany and Eastern Europe, and that the retailer held a cash balance of €699 million as of 21 June after paying a €450 million dividend in May 2026 to shareholders, providing a cash return to 3i and other investors according to an AskTraders analysis.

Share buyback and valuation context

Alongside the operational update, 3i sets out that today’s AGM agenda includes a shareholder vote on an up-to-£750 million share buyback, which the company and external commentators see as accretive if executed at a discount to the reported net asset value of 3,030 pence per share, thus supporting net asset value per remaining share as highlighted by Investing.com.

Before the latest rally, 3i shares traded at a pronounced discount to that 3,030 pence NAV reference, reflecting investor concerns about whether the earlier slowdown in Action’s growth, especially in France, was cyclical or structural, a discount that the combination of improving like-for-like sales and the buyback proposal now challenges by narrowing the gap between price and intrinsic value estimates as MarketScreener aggregates from the AGM statement.

The business behind the stock

3i Group positions itself as an international investment manager focused on private equity and infrastructure, with Action as its largest asset in the private equity portfolio, a non-food discount retailer that sells everyday consumer goods at low price points across a growing European store network, while 3i also manages a portfolio of infrastructure investments in sectors such as energy, transport and utilities that generate long-term cash flows for the group.

Where the stock trades today

The 3i Group shares (GB00B1YW4409) trade on the London Stock Exchange under the ticker III, with the latest available price at 2,528.00 pence as of 2026-06-25, 16:49 BST, according to exchange data providers.

Disclaimer: This article is for informational purposes only and does not constitute investment advice, investment recommendation or an invitation to buy or sell securities. All data are based on publicly available sources believed to be reliable but cannot be guaranteed for accuracy or completeness.