Increased involvement in PFI/PPP gives firm reason to be confident.
John Laing says that the 2005 performance in its operational PFI/PPP projects is in line with expectations, with those at the construction stage progressing well.
It has increased the number of PFI/PPP projects it is involved in to 46, 10 more than it had a stake in a year ago. Four such projects have reached financial close in 2005, with a further six expected to follow suit before the end of the year.
Laing also reached financial close on three primary healthcare facilities as part of the Manchester, Salford and Trafford LIFT concession this week.
Laing said that project extensions and new projects reaching financial close in 2005 involved £420m of gross capital investment, with Laing’s equity commitment at £23.2m.
Laing chairman Bill Forrester said that the new government was planning to increase investment in the public sector, and that PFI was likely to play a significant role.
He said: “John Laing is well placed to take advantage of these trends from its positioning in the market as a specialist listed investor, equipped to act as a developer of privately financed public sector infrastructure and an ongoing partner of public sector bodies. We look forward to the future with confidence.”
