19th Nov 2015 18:42
LONDON (Alliance News) - John Laing Environmental Assets Group Ltd on Thursday said the value of its portfolio grew in the first half of its financial year as it works on building its acquisition pipeline.
The infrastructure investment fund said its portfolio was valued at GBP217.6 million as at September 30, up from GBP197.7 million as at March 31. Its net asset value per ordinary share was 101.2 pence, unchanged from March 31, after adjusting for dividends paid during the period.
It also made a pretax profit of GBP6.2 million in the half year, compared with GBP4.6 million in the period from December 12, 2013 to September 30, 2014.
John Laing said it made progress in enlarging its portfolio and has a strong pipeline of available opportunities.
"Based on the current outlook for the portfolio and the markets in which it operates, the board believes that the current portfolio will continue to deliver the target returns of the company. The board and the investment adviser also seek opportunities to improve the cash flow profile of the portfolio through the delivery of additional operational scale efficiencies and through prudent portfolio and financial management," the company said in a statement.
Shares in John Laing closed down 0.2% at 106.25 pence on Thursday.
By Karolina Kaminska; [email protected] @KarolinaAllNews
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