Listed on 12th February 2015.

Key facts

John Laing is an international originator, active investor and manager of infrastructure projects. Its business is focused on major transport, social and environmental infrastructure projects awarded under governmental public-private partnership (PPP) programmes, and renewable energy projects, across a range of international markets including the UK, Europe, Asia Pacific and North America.

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John Laing Group's Fundamentals (JLG)

PRE-CLOSE UPDATE



John Laing Group plc ("John Laing" or "the Group"), the international originator, active investor and manager of infrastructure projects, today issues a pre-close update for the half-year ending 30 June 2016.

Highlights

· Total investment commitments to date of £76 million

· Full year guidance for investment commitments maintained, namely in line with £180.5 million achieved in 2015

· Investment realisations to date of £57.7 million

· Full year guidance maintained, namely proceeds of approximately £100 million, excluding £19.5 million transaction agreed in February 2016

· Sale of UK activities of Project Management Services announced on 21 June 2016

Investment Activity

· Strong levels of bidding activity in each of our core markets: Europe (including the UK), North America and Asia Pacific

· Investment commitments year to date:

o A6 PPP road project (Netherlands): £9 million

o Hornsdale Wind Farm phase 2 (Australia): £6 million

o Llynfi Wind Farm (UK): £24 million (contractual close)

o Intercity Express Programme ("IEP") Phase 1 (UK - increase in shareholding): £37 million



· PPP: Exclusive / shortlisted positions totalling approximately £80 million on opportunities with the potential to be committed in H2 2016



· Renewable energy: Exclusive / shortlisted positions totalling approximately £130 million on opportunities with the potential to be committed in H2 2016

Realisations

· As agreed in February 2016, two investments sold in first half to JLIF for combined proceeds of £19.5 million:

o British Transport Police (54.17% holding)

o Oldham Housing (95% holding)

· Disposal of investment in Dungavel Wind Farm (100% holding) to JLEN announced today for gross proceeds of £38.2 million

· Other realisations in progress

Investment Portfolio

· New Royal Adelaide Hospital: construction close to completion but contractor incurring delays in achieving commercial acceptance; the impact on John Laing's portfolio valuation is not expected to be material.

· Other major projects under construction progressing according to schedule: five trains are now undergoing testing in the UK for Phase 1 of IEP

· Operational projects performing in line with expectations

· Two investments have moved from the primary to the secondary investment portfolio in the year to date: Rammeldalsberget Wind Farm (Sweden) and New Albion Wind Farm (UK)

Pension Fund

· £18m cash contribution in first half

· Reduction in estimated IAS 19 discount rate: 3.25% at 31 May 2016 versus 3.75% at 31 December 2015

· Actuarial valuation at 31 March 2016 underway, but not expected to be concluded until late Q3 or Q4

Corporate Banking Facility

· Increased funding flexibility through increase in facility from £350 million to £400 million in June 2016

Outlook

· John Laing remains well positioned for future growth

· Strong pipeline of new investment opportunities in PPP, renewable energy and selected other closely-linked infrastructure sectors

· Market for disposal of secondary infrastructure investments remains strong

HALF-YEAR RESULTS

Highlights

· Net asset value (NAV) £963.7 million, up 8.3% from £889.6 million at 31 December 2015

· NAV per share at 30 June 2016 of 263p (31 December 2015 - 242p)

· £76.0 million in investment commitments (six months ended 30 June 2015 - £72.1 million)

· Realisations of £57.7 million from the sale of investments in project companies

· Profit before tax of £108.3 million (six months ended 30 June 2015 - £32.6 million pro forma1)

· 12.5% increase in external Assets under Management to £1,277.5 million2 since 31 December 2015

· Cash yield from investment portfolio of £18.3 million (six months ended 30 June 2015 - £11.4 million)

· Sale of UK activities of Project Management Services announced on 21 June 2016

· Interim dividend of 1.85p per share payable in October 2016



Olivier Brousse, John Laing's Chief Executive Officer, commented:

"We made good progress in the first half and are maintaining our full year guidance for investment commitments and realisations. These results demonstrate that our business model is delivering consistent results, and has the ability to cope with today's changing macro-economic environment, including the impact of Brexit."

HSBC Buy 258.25 275.00 315.00 Reiterates

Barclays Capital Overweight 258.25 270.00 270.00 Reiterates

DIRECTOR/PDMR SHAREHOLDING

A new high @275p.

Well picked Skinny. Lovely uptrend on the chart

John Laing Group plc ("John Laing") disposal of shareholding in A1 motorway project in Poland

StockMarketWire.com
John Laing Group, the international originator, active investor and manager of infrastructure projects, says primary investment activity has remained strong in each of its three geographical regions: Asia Pacific, North America and Europe (including the UK).

A pre-close update for the year ending 31 December says that the group's investment portfolio as a whole is performing in line with expectations.

Investment activity:
- Total investment commitments to date of £181 million, in line with guidance for 2016

- Investment commitments in 2016:

* A6 Parkway (Netherlands): £9.0 million

* Intercity Express Programme (IEP) Phase 1 (UK): £37.0 million

* Eight wind farm investment commitments totalling £133.9 million in the UK, Germany, France, Australia and the US

Realisations:
- Total realisations agreed in 2016 to date of £255 million, with aggregate prices achieved in line with portfolio valuation:

* Sale of holdings in British Transport Police and Oldham Housing for £19.5 million (counted towards realisations guidance for 2015)

* Proceeds from a further three completed transactions of £56.4 million

* Agreed sale of 100% holding in A55 road, UK for £28.3 million to JLIF, expected to complete shortly

* Agreed sale of 30% holding in M6 road, Hungary for €26.6 million (estimated £22.5 million), not expected to complete until Q1 2017. This transaction is subject to a number of consents and conditions

* Agreed sale of 29.69% holding in A1 motorway, Poland for €146.9 million (estimated £128.6 million), not expected to complete until Q1 2017. This transaction is also subject to a number of consents and conditions

Beaufort Securities Buy 278.25 - - Reiterates

Barclays Capital Overweight 279.95 330.00 330.00 Reiterates

John Laing Group ("John Laing") Update on disposal of shareholding in A1 motorway project in Poland

11 January 2017

On 4 November 2016, John Laing Group plc ("John Laing"), the international originator, active investor and manager of infrastructure projects, announced that it had entered into an agreement to dispose of its 29.69% investment in Gdansk Transport Company S.A. ("GTC") to FS Amber Holdings B.V. ("FS Amber") for €146.9 million (£131.0 million) subject to certain reductions and adjustments. Completion of the sale was subject to obtaining various consents and satisfying certain conditions.

Since that announcement, as a consequence of the exercise of pre-emption rights by a co-shareholder in GTC, NDI Autostrada SP. Z.O.O. ("NDIA"), John Laing has entered into an agreement to dispose of its investment in GTC to NDIA, for the same price and on the same terms as to potential reductions and adjustment to final consideration as previously agreed with FS Amber.

Completion of the disposal to NDIA is subject to obtaining certain consents and satisfying certain conditions and is expected to occur within the first quarter of 2017.

RESULTS FOR THE YEAR ENDED 31 DECEMBER 2016



John Laing Group plc (John Laing or the Company or the Group) announces its audited results for the year ended 31 December 2016.



Highlights

· 14.3% increase in Net Asset Value (NAV), from £889.6 million at 31 December 2015 to £1,016.8 million

· NAV per share at 31 December 2016 of 277p (31 December 2015 - 242p)

· New investment commitments of £181.9 million (2015 - £180.5 million)

· Realisations of £146.61 million from the sale of investments

· Profit before tax of £192.1 million compared to £106.6 million (pro forma) in 20152

· Earnings per share of 51.9p (2015 - 27.6p pro forma)

· 30% increase in external Assets under Management (AuM) to £1,472 million3

· Cash yield from investment portfolio of £34.8 million (2015 - £38.9 million)

· Continuing international growth including the Group's first offshore wind farm investment and first renewable energy investment in the US

· Final dividend of 6.3p per share in line with policy (including a special dividend of 2.6p per share), giving a total 2016 dividend of 8.15p (2015 - total dividend of 6.9p)



Olivier Brousse, John Laing's Chief Executive Officer, commented:

"2016 has been another good year for John Laing with strong growth in NAV and dividends. Our origination platform is working well as shown by our increasingly diversified and growing pipeline of opportunities, while our portfolio of projects under construction is well balanced and actively managed by experienced teams, allowing us to deliver steady results. We are well organised and positioned to take advantage of future opportunities in order to continue to move our business forward while controlling our costs and our risks. "

Notes:
1. Realisations include £19.5 million in respect of British Transport Police and Oldham Housing transactions which counted towards guidance for 2015.
2. Profit before tax from continuing operations of £192.1 million (2015 - £100.9 million) and from discontinued operations of £nil (2015 - £5.7 million).
3. External AuM based on published portfolio values of JLIF and JLEN at 30 September 2016.

A presentation for analysts and investors will be held at 9:00am (London time) today at The Lincoln Centre, 18 Lincoln's Inn Fields, London WC2A 3ED. A conference call facility will also be available using the dial-in details below.

Conference call dial in details:

UK: 020 3059 8125
Other locations: +44 (0) 20 3059 8125
Participant password: John Laing Conference Call

Participant URL for live access to the on-line presentation:

http://www.investis-live.com/john-laing/58b6c29a146fbc10004bcf54/gfasdgdafg

Berenberg Buy 265.50 330.00 340.00 Reiterates

John Laing forced to broaden its horizons

22 Mar Peel Hunt Buy 0.00 344.00 384.00 Reiterates
22 Mar Barclays Capital Overweight 0.00 - 345.00 Reiterates

Interesting uncrossing trade earlier @298.90.

A new high @299.40p.

Don't suppose there is a chance of putting JLIF chart in the header please skinny?
Not really worth starting a new thread for it, but the two seem to roughly mirror each other. Maybe a smaller chart???

Done.

Thank you. Steady yield, which is what I am looking for.