18th May 2018 09:33
LONDON (Alliance News) - John Laing Infrastructure Fund Ltd said Friday its net asset value per share is up from the end of the year as it makes "good progress" on transitioning its projects affected by the Carillion liquidation.
In the three months to March 31, the infrastructure investment company reported net asset value per share increased 0.7% to 125.5 pence with dividend. Ex-dividend the net asset value per share was 121.9p.
The underlying portfolio experienced growth of 1.8% to GBP1.38 billion, expected due to the "discount rate unwind". John Laing said its portfolio continues to perform in line with expectations.
John Laing has transitioned the facilities management services of the nine projects affected by the Carillion collapse - these represent 8.7% of its portfolio value. The largest, the M40 motorway project, has fully transitioned to a new provider. The other eight remain with with their new providers on an interim basis.
The GBP3.0 million cost of replacement for the nine projects falls within guidance.
Shares in John Laing Infrastructure Fund were up 0.2% to 117.40 pence each.
Related Shares:
JLG.LJohn Laing Infrastructure Fund