25th Mar 2015 09:29
LONDON (Alliance News) - Infrastructure investor John Laing Group PLC on Wednesday said its pretax profit rose in 2014 as it reported a higher net asset value and investment portfolio valuation.
The company, which floated on the London Stock Exchange in February, said its pretax profit for the year was GBP120.4 million, up 7% year-on-year from GBP112.9 million last year.
The valuation of its investment portfolio increased to GBP772 million in the year, up from GBP684.4 million, as the group made GBP217.2 million of investments in the year and realised GBP198.5 million from the sale of infrastructure investments.
Its net asset value rose to GBP649.8 million from GBP528 million, and its net asset value per share increased to 210 pence from 204 pence at the end of September and 177 pence at the end of December 2013.
"I am pleased to announce strong growth in NAV and an increase in like-for-like profits. Now that we have completed our IPO, we can concentrate on continuing to grow our business, in particular our international investments. Our track record and our forward pipeline continue to provide us with confidence for the future," said Chief Executive Olivier Brousse.
Shares in John Laing Group were up 1.7% to 206.50 pence on Wednesday.
By Sam Unsted; [email protected]; @SamUAtAlliance
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