27th Aug 2015 07:27
LONDON (Alliance News) - FTSE 250 infrastructure investor John Laing Group PLC on Thursday said its net asset value rose in the first half of 2015 and said it would pay its first interim dividend since its initial public offering earlier in the year.
The company, which entered the FTSE 250 index in June following its return to public markets in February, said its net asset value increased to GBP821.7 million at the end of June, up from GBP771.1 million at the end of December. Its net asset value per share at the end of the half was 224.0 pence, up from 210.0 pence.
John Laing committed GBP72.1 million to new infrastructure projects in the half, up from GBP84.7 million in the comparable period a year earlier, and made realisations of GBP54.1 million from the sale of investments made in project companies. Its investment portfolio valuation at the close of the half was GBP712.8 million, but its external assets under management increased to GBP1.10 billion, up 8% since the end of December.
The group said it will pay an interim dividend of 1.6 pence per share, its first since it listed in February and in line with its plans at the time of the flotation.
"The group performed well in the first half in all the geographies and sectors we operate in. Our focus has been on investment commitments and realisations, which are on track to meet our targets for the full year, alongside enhancing the value of our existing investments," said Chief Executive Olivier Brousse.
John Laing shares were up 0.1% to 118.36 pence in early trade on Thursday.
By Sam Unsted; [email protected]; @SamUAtAlliance
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