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John Laing swings to loss on challenging in renewable energy portfolio; ups divi
StockMarketWire.com
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Infrastructure investor John Laing swung to a loss in 2020 amid challenges in its renewable energy portfolio.
For 2020, pre-tax loss was £65 million from a profit of £100 million year-on-year as net asset value fell to £1.53 billion from £1.66 billion.
The loss was blamed on challenges in its renewable energy portfolio as the company's solar and biomass projects, as well as adverse external factors, particularly lower power prices which the pandemic served to compound.
The dividend for 2020 was 9.70 pence per share, up from 9.50 pence a share.
Looking ahead the company is targeting medium-term returns target of 9-12% per annum with a return to underlying NAV growth in 2021.
At 8:48am: (LON:JLG) John Laing Group PLC share price was 0p at 306.8p
Story provided by StockMarketWire.com
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