- John Laing expected Thursday full-year net asset value would be in-line with management expectations supported by 'strong' pipeline of opportunities.

Total investment commitments to date was £267m, slightly ahead of the company's guidance for 2018 of approximately £250m, the company said. A further £20-to-£30m investment could possibility be carried out before the year-end, it added.

The company asset sales for the year to date amounted to £296.0m, of which £241.5m was completed, in line with its guidance for 2018 of approximately £250m.

The special dividend for the year was expected to be based on realisations completed to date of £241.5m, though the company said it would weigh up 'all relevant factors' including funding for new investment to determine the pay-out rate.

'In arriving at the appropriate percentage within the 5% - 10% pay-out rate, the board plans to consider all relevant factors, including funding needs for new investments,' the company said.

Bunzl said its Sydney Light Rail projected was running behind schedule by about 15 months, which it partly blamed on 'the presence of below ground utility equipment not identified before construction commenced.'

'Following our rights issue in March, we have continued to take advantage of our strong pipeline of opportunities and we have exceeded our investment guidance for 2018. As we look forward to 2019, we are confident in our ability to manage our existing projects actively and generate more value from them, as well as spread our activity across different geographies and sectors, which reduces our exposure to local policy uncertainties. We continue to see an attractive pipeline both in existing and new sectors,' said Olivier Brousse, John Laing's Chief Executive Officer.

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