(Sharecast News) - Infrastructure investor John Laing warned investors on Thursday that its full year net asset value looked set to be "marginally below" market expectations.
John Laing said a combination of sterling strengthening between 1 July and 30 November, as well as a decline in power price forecasts and changes in macroeconomic and tax assumptions, had negatively impacted its full-year performance.
The FTSE 250-listed firm said forex changes alone had lowered the value of the portfolio by roughly £50m, while the power price fluctuations were a further £40m hit.
However, John Laing said that it had continued to benefit from strong public-private partnership project delivery and ongoing value enhancements in the second half of the year.
The London-based group also highlighted a growing pipeline of investment opportunities, stating it was on track to reach its three-year investment and realisation target of £1bn by 2021.
At o820 GMT, John Laing shares had slumped 7.57% to 363.60p.
28 Sep 2023 07:14
HICL Infra sells five-asset portfolio for £204m
(Sharecast News) - HICL Infrastructure said it had sold a portfolio of five assets to John Laing for £204m.
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