8th Mar 2016 08:31
LONDON (Alliance News) - John Laing Group PLC on Tuesday said its pretax profit fell in 2015 due to a lower fair value movement in its investment portfolio.
The infrastructure investor and manager said pro forma pretax profit 2015 was GBP106.6 million, compared to GBP120.4 million in 2014.
John Laing saw a rise in the value of its portfolio in 2015, to GBP841.4 million from GBP772.0 million. The group made investment commitments of GBP180.5 million in the year and realised GBP86.3 million from the sale of investments.
The group recorded an uplift in the fair value of its portfolio of GBP132.1 million in 2015, lower than the GBP158.6 million recorded in 2014.
Its net asset value rose to GBP889.6 million from GBP771.1 million, and to 242 pence from 210p on a per share basis.
John Laing said its final dividend was 5.3 pence per share, bringing its full year dividend to 6.9p per share. It did not pay a dividend for 2014.
"2015 has been a very good year for John Laing with more than 15% of net asset value growth. Our business model has proved resilient in a volatile macro-economic environment. We have the people, agility and brand recognition to take advantage of the markets for new infrastructure in the regions we operate in and we are confident in our future prospects," said Chief Executive Olivier Brousse.
Shares in John Laing were up 0.9% at 215.30 pence on Tuesday morning.
By Hannah Boland; [email protected]; @Hannaheboland
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