# John Laing Group plc Strong value creation with NAV per share of 323p

- Link: https://www.directorstalkinterviews.com/john-laing-group-plc-strong-value-creation-with-nav-per-share-of-323p/412768567
- Published: 2019-03-05T07:52:50+00:00
- Author: Charlotte Edwards

**John Laing Group plc** (LON:JLG) announced its audited results for the year ended
31 December 2018.

**Highlights**

· Strong value creation: net asset value (NAV) per share at 31 December 2018 of 
323p (31 December 2017 – 281p1)

– 15.0% increase since 31 December 2017

– 18.2% increase including dividends paid in 2018

· NAV of £1,586.5 million at 31 December 2018 (31 December 2017 – £1,123.9 million)

· £302.0 million in investment commitments (2017 – £382.9 million)2

· Strong pipeline of £2.4 billion of investment opportunities

· Realisations of £296.1 million from the sale of investments in project companies(
2017 – £289.0 million)

· Profit before tax of £296.6 million (2017 – £126.0 million) and earnings per share(
EPS) of 63.1p (2017 – 31.9p)3

· Portfolio value at 31 December 2018 of £1,560.2 million representing 29.4% increase
on rebased portfolio value4 at 31 December 2017

· Final dividend of 7.7p per share in line with policy (including a special dividend
of 4.1p per share), giving a total 2018 dividend of 9.5p (2017 – total dividend 
of 8.92p5), an increase of 6.5% from 2017

· 1 for 3 rights issue in March 2018 raising £210.5 million, net of costs (the Rights
Issue)

> **Olivier Brousse, John Laing’s Chief Executive Officer, commented:**
> “We are pleased with the net asset value we generated in 2018. Our diversified
> portfolio of projects has once again proved resilient and our teams have actively
> managed our projects both under construction and operation. Since the rights issue
> in March 2018, we have continued to grow our pipeline of investment opportunities
> whilst looking to reduce our exposure to local political and macroeconomic uncertainties
> through a more diversified portfolio. We are carefully expanding our model into
> new sectors and new countries, on the back of strong relationships with international
> partners and with the benefit of our expanded capital base. Looking forward, we
> are confident in our ability to continue to generate value from our existing portfolio
> and to take advantage of both an active secondary market to recycle our capital
> and a strong pipeline of opportunities in order to invest in existing and new 
> markets. The successful completion of our projects makes a positive impact on 
> the communities we serve, proving time and again the benefits of private investment
> in new infrastructure.”

Share on: