- Infrastructure company John Laing reported a rise in its third-quarter net asset value, boosted by performance in its public private partnership portfolio.

For the quarter ended 30 September 2020, net asset value grew 2% to £1.55 billion from the June quarter, and to 314p on a per share basis.

Underlying NAV growth was 4% in the quarter, excluding the impact of movements in foreign exchange and the pension balance, the company said.

The PPP portfolio delivered a strong contribution, benefitting from the gain on the sale of its stake in IEP East and continued good delivery of a number of key projects, it added.

Looking ahead, John Laing said 'good performance in the third quarter has underpinned the outlook for underlying NAV growth in the second half of year.'

'We continue to expect modest underlying NAV growth for the second half of the year, excluding foreign exchange movements and other external factors,' it added.

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