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Trading statements

JLIF pleased with performance

17 May 2016 09:37

John Laing Infrastructure Fund Limited's board is pleased with the performance of the portfolio over the first quarter and the group has a strong pipeline of assets which it expects to complete in the coming months.


- Underlying growth in portfolio value for the three months to 31 March 2016 of 1.7% to £973.5 million on a rebased value of £957.2 million - Announced a 1.04% increase in the dividend from 3.375pps to 3.41pps, in respect of the six- month period to 31 December 2015, in line with UK inflation - Net Asset Value of £1,000.6 million as at 31 March 2016, including £27.8 million allocated to the dividend to be paid in May 2016 - NAV per share as at 31 March 2016 of 108.3 pence ex-div (111.7 pence cum-div), due to underlying portfolio growth over the period, positive unrealised exchange rate movements and the NAV accretive equity issuance in March 2016 - Acquisitions of approximately £90 million in the first quarter of 2016, including JLIF's first investment in the Spanish secondary PPP market - Strong pipeline of assets at advanced stage, expected to complete in coming months

Chairman Paul Lester said: "The board is pleased with the performance of the Portfolio over the first quarter of 2016. JLIF continues to grow, including through acquisitions, with our first investment in Spain completed in January. We remain selective in pursuing deals that represent good value to shareholders."

The company also announced that all resolutions proposed at its annual general meeting yesterday were passed.

At 9:37am: (LON:JLIF) John Laing Infrastructure Fund Ltd share price was +0.65p at 123.55p

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