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Interim Results

JLEN net asset value up

23 November 2016 08:10

John Laing Environmental Assets Group's net asset value per ordinary share rose to 98.3 pence at the end of September from 96.7 pence at the end of March.

JLEN said the the positive movement in the period reflected primarily an increase in forecast electricity prices.

Portfolio valuation at 30 September 2016 was £320.7m (31 March 2016: £264.5m).

Other highlights:

- Total dividends declared of 3.07 pence per ordinary share for the six months to 30 September 2016, in line with target set out in the 2016 annual report and reflecting an inflation uplift from 1 April 2016

- Share price total return for the period of 7% (17.5% since IPO in March 2014) Chairman Richard Morse said: "The Board is encouraged by the progress JLEN has continued to make during the first half of the year. The operational and financial performance has been generally encouraging, underlining the strength of our diversified portfolio.

"The Board is appreciative of the continuing support of shareholders, demonstrated during the period by the successful equity raise in June and the launch of our tap issuance programme in July in response to increased investor demand.

"We were able to use the funds raised to pay down debt and maintain a healthy level of acquisitions. We continue to deliver on our commitments to our shareholders and to that end we have paid and declared interim dividends during the period that have increased in line with inflation from last year."

At 8:10am: (LON:JLEN) John Laing Environmental Assets Group share price was +0.25p at 105.25p

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