22nd Jun 2015 06:32
LONDON (Alliance News) - Infrastructure project investor John Laing Group PLC on Monday said it has a strong pipeline of investments in place for the remainder of 2015 and said it is on track to hit its realisation targets as the group starts trading in the FTSE 250 index.
John Laing, which was promoted to the FTSE 250 from Monday, said it has made total investment commitments of GBP72 million in the first half of 2015 so far. It has made GBP42 million in realisations in the year to date and is on track to hit its full-year target of GBP100 million.
The group said its investment actvities are continuing on track, with good levels of bidding activities in core markets. In the half, it made a GBP41 million commitment to the Sydney Light Rail project in Australia and made GBP31 million of wind farm investments in Ireland and Sweden.
John Laing said its pipeline of investment opportunities remains robust in the public private partnership and renewable energy sectors and said its full-year investment commitment target remains at GBP150 million to GBP200 million, with commitments to be weighted to the second half.
"I am pleased to report that John Laing is on track to achieve its full-year targets. Following our IPO we have the resources to continue our growth in the UK and abroad and to take advantage of the many opportunities in both the PPP and Renewable Energy sectors," said Olivier Brousse, John Laing's chief executive.
By Sam Unsted; [email protected]; @SamUAtAlliance
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