- John Laing Group said Tuesday as a jump in net asset more than doubled profits despite a uncertain backdrop for infrastructure investment amid slowing global economy.

For the year ended 31 December 2018, pre-tax profit rose more than doubled to £296.1m, and net asset value per share rose to 323p from 281p a year earlier.

The company's pipeline of investment opportunities, totalled £2.4bn in value, while the portfolio value rose 29.4% to £1.56bn.

The upbeat results come as the company expanded its geographical footprint, and diversity of projects to stave off the drag from political uncertainty and a slowing global economy.

The total final dividend for 2018 amounted to 7.7p per share, which, together with the interim dividend of 1.8p per share paid in October 2018, took the total dividend for 2018 to 9.5p per share, up 6.5% over 2017.

'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,' said Olivier Brousse, chief executive.

'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.'

At 9:14am: [LON:JLG] John Laing Group Plc share price was +1.4p at 379.6p

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