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Annual Results

John Laing pre-tax profits rise

07 March 2017 07:38

John Laing Group posts pre-tax profits of £192.1 million for the year to the end of December compared with a pro forma £106.6m in 2015.

2016 was the group's first full year since its IPO in February 2015 and it reports a 14.3% increase in NAV, from £889.6 million at 31 December 2015 to £1,016.8 million.

Other highlights:

- NAV per share at 31 December 2016 of 277p (31 December 2015 - 242p); - New investment commitments of £181.9 million in six different countries; - Realisations of £146.6 million from the sale of assets; - 30% increase in external assets under management (AuM) to £1,472 million; - Cash yield from investment portfolio of £34.8 million (2015 - £38.9 million);

- Sale of UK activities of Project Management Services (PMS);

- Final dividend of 6.3p per share in line with policy (including a special dividend of 2.6p per share), giving a total 2016 dividend of 8.15p (2015 - total dividend of 6.9p)

Chief executive Olivier Brousse said: "2016 has been another good year for John Laing with strong growth in NAV and dividends.

"Our origination platform is working well as shown by our increasingly diversified and growing pipeline of opportunities, while our portfolio of projects under construction is well balanced and actively managed by experienced teams, allowing us to deliver steady results.

"We are well organised and positioned to take advantage of future opportunities in order to continue to move our business forward while controlling our costs and our risks. "

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Related Company: JLG

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