16th Mar 2016 07:55
LONDON (Alliance News) - John Laing Infrastructure Fund Ltd Wednesday said it increased its dividend in 2015 after reporting a rise in profit, but said its net asset value fell during the year.
John Laing Infrastructure said its net asset value per share at the end of 2015 stood at 108.4 pence, dipping from the 109.3 pence at the end of 2014 as its net assets dropped to GBP883.1 million from GBP885.7 million.
The pretax profit in the year rose to GBP33.8 million from GBP26.5 million a year earlier.
"Although our share price has declined over the past year, ending the year at 116.7 pence, down from 122.8 pence at the start of the year, despite steady growth over the previous four years, John Laing's share price has remained relatively stable, trading throughout the period at a premium to net asset value," said John Laing Infrastructure.
"We have once again exceeded the level of growth from the portfolio that would arise from the adjusted unwind of the discount rate. This is the fifth consecutive year since launch that the company has outperformed by this measure," it added.
John Laing Infrastructure raised its dividend for the year to 6.75 pence from 6.50 pence the year before.
By Joshua Warner; [email protected]; @JoshAlliance
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