StockMarketWire.com - John Laing Group reported net asset value (NAV) of £1.12bn in 2017, up 10.5% from £1.02bn the previous year, while NAV per share grew to 306p from 277p.

Total external assets under management grew to £1.65bn, up 12.0%.

The upbeat growth was driven by success outside the UK as the company as core Asia Pacific and North America markets performed strongly.

'2017 was a strong year for John Laing. We made record investment commitments, driven in large part by our success in our core Asia Pacific and North America markets,' said Olivier Brousse, John Laing's Chief Executive Officer, said.

Investment commitments reached a record high £382.9m, significantly ahead of the firm's guidance of approximately £200m.

Realisations of investments were £289.0m, ahead of guidance for 2017 of approximately £200m. As a result of strong annual performance the firm recommended a special dividend for 2017 of 4.88p per share.

The total dividend for 2017 is 10.61p per share, an increase of 30.2% over 2016.

Profit before tax was £126.0m compared to £192.1m in 2016, while earnings per share fell to 34.7p from 51.9p.

The firm entered 2018 with a strong investment pipeline including nine shortlisted public private partnerships (PPP) positions and with four exclusive renewable energy opportunities.

'We continued to grow our pipeline, 95% of which is now made up of opportunities outside the UK, and to scale up our business. We are exclusively focused on investment in greenfield projects that meet our strict criteria, and our strategy remains to generate value for shareholders though growth in NAV and dividends,' said Olivier Brousse, John Laing's Chief Executive Officer, said.


At 8:49am: [LON:JLG] John Laing Group Plc share price was -13.9p at 260.3p



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