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John Laing Group profit went up 7%

Staff writer |
John Laing Group plc reported a 7% jump in pretax profit in its first set of results since its listing.

Pretax profit climbed to GBP120.4 million ($178.9 million) in 2014 as the net asset value rose 23% from GBP528.0 million to GBP649.8 million in the year. John Laing committed GBP217.2 million to projects in the year, its highest-ever total.

The company's pipeline of public/private partnership assets was worth GBP1.07 billion at the end of year, spanning three years. It is targeting GBP150 to GBP200 million in new investment commitments this year, up from GBP135 million on average over the last four years.

Mr. Brousse said: "We are currently pursuing a number of specific PPP opportunities in the U.S., Australia and Continental Europe, most of which are scheduled to reach financial close in the second half of 2015.

"In renewable energy, we expect to convert some of our exclusive opportunities over the next few months. We are also well placed to take advantage of some possible late entry opportunities we are seeing in both PPP and renewable energy.

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