Research, Charts & Company Announcements
Research Tree provides access to ongoing research coverage, media content and regulatory news on JOHN LAING GROUP PLC. We currently have 3 research reports from 2 professional analysts.
|21Nov16 03:37||RNS||Holding(s) in Company|
|10Nov16 04:11||RNS||Holding(s) in Company|
|26Oct16 05:04||RNS||Holding(s) in Company|
|20Oct16 07:00||RNS||Investor and analyst morning|
|13Oct16 02:39||RNS||Holding(s) in Company|
|19Sep16 03:15||RNS||Listing Rule 9.6.14|
Frequency of research reports
Research reports on
JOHN LAING GROUP PLC
JOHN LAING GROUP PLC
Track record of growth
31 Aug 16
John Laing (JLG), listed in February 2015, has a diversified portfolio of investments, by sector and geography, and with an even split of operational projects and assets under construction. We believe that JLG is well placed to capitalise on the future demand for infrastructure and renewable investment and we forecast a total return (NAV and DPS growth) of c 17% (2015-20). This growth should lead to a reduction in JLG’s valuation discount.
26 Aug 16
The wait is almost over. Fed Chair, Janet Yellen, is due to speak at 15:00BST today at the annual Jackson Hole Symposium in Wyoming. Titled ‘The Federal Reserve’s Monetary Policy Toolkit’, every comma, intimation or exclamation within her speech will undoubtedly be scrutinised and giant funds potentially quickly re-directed on any conclusions drawn. Ahead of this Kansas City Fed President, Ester George, a noted sceptic of the central bank’s easy money policy, detailed her own proposal in yesterday’s Wall Street Journal, calling for short-term rates to rise to around 3% over the next couple of years for fear of otherwise creating significant imbalances in the financial system. Yellen, of course, has heard all the arguments before and balancing risks/rewards is likely to end up taking a narrow line between her many advisors, by suggesting the US remains well positioned for continued gradual recovery, employment trends remain good and inflation should slowly pick up; all this would keep the door ajar for at least one rate rise before year end but in investor’s eye not be enough to label the whole event anything but an anti-climax. US markets, perhaps anticipating this and in the absence of significant other macro or corporate news, yesterday had the third-lightest trading session so far this year with all principal equity indices closing fractionally down. Some large long-US$ positions built up since the Fed’s Stanley Fischer hawkish statements of a week or so ago were marginally wound down, leaving the currency slightly weaker, most particularly versus the Yen, during Asian trading. The Nikkei accordingly became the region’s largest casualty in an otherwise modestly mixed session, with the Chinese equity markets gaining while the commodity-heavy ASX gave back some of the previous day’s gains. Against this background, traders should be prepared for the London session to open very quietly this morning, with the FTSE-100 seen drifting less than 5 points either side of unchanged in early trading. Revised Q2’16 UK GDP data is due for release this morning, but unlikely to set off any fireworks. The corporate calendar is also quiet, with just a few earnings numbers anticipated from the likes of Antrim Energy (AEY.L), Avocet Mining (AVM.L), Computacentre (CCC.L), Lavendon Group (LVD.L), Marshalls (MSLH.L) and Restaurant Group (RTN.L)."
01 Jul 16
"Sterling remains under pressure following suggestions of a summer easing by Mark Carney, the Governor of the Bank of England, during his speech yesterday afternoon. It touched a 30-month low against the Euro, while US dollar rates have only bounced modestly from the 31-year bottom reached on Monday. This, of course, is providing more power to the FTSE-100 blue-chips, who generate over 70% of their earnings overseas, that will see significant translational and activity benefits as a result. The FTSE-100, which closed yesterday 3% above its pre-Brexit level, is expected to gain a further 59 points on this morning's the opening. Europe's principal indices are also seen moving ahead, despite the S&P downgrading the European Union by one notch to AA overnight, principally due to knock-on effects of the UK vote. US indices remained buoyant following London's close, as the Fed's James Bullard reflected on how markets had coped well with the Brexit shock, concluding that it is unlikely to seriously derail either the US or the global economy. Asian equities were similarly higher during early morning trade on Friday, with both the Nikkei and Shanghai composite index rising despite Japanese consumer prices for May falling again and China's official manufacturing PMI for June reportedly dipping to a 4-month low. Macro releases due this morning include Manufacturing PMI surveys from the UK, Germany and Eurozone. Later, a speech from the Fed's Loretta Mester is also expected. No major UK corporate results are expected, although Trinity Mirror is scheduled to provide a trading statement." - Barry Gibb, Research Analyst
Positive returns from all asset classes in Q316
28 Nov 16
Tetragon Financial Group (TFG) reported fair value earnings of US$49.7m for the third quarter of 2016, with positive contributions made by all asset classes. NAV total return was 1.3% for the quarter and 7.8% for the nine months to 30 September 2016. Having completed a US$100m tender offer in June 2016, TFG commenced a US$50m tender offer on 9 November 2016, which should be meaningfully accretive to NAV per share given the current wide share price discount to NAV. Consistent with previous years, the third interim dividend was held in line with the second interim, confirming TFG’s 5.9% yield.
N+1 Singer - Morning Song 30-11-2016
30 Nov 16
Sanderson has delivered full year results in line with expectations and the 19 October trading update after a strong finish to the year compensated for a slower start. A healthy level of pre-contracted recurring revenue (50%), incremental sales to existing customers and new customer wins at higher average order values helped deliver solid revenue growth in both the Digital Retail (+9%) and Enterprise (+12%) divisions. A decent order book and good sales momentum suggest that the company is on track to deliver on unchanged profit expectations for the current year. We continue to view the valuation (FY17 EV/EBITDA 8.6x) as undemanding given an attractive combination of accelerating growth potential, strong cash generation and growing dividends.
Small Cap Breakfast
28 Nov 16
Warpaint London—Schedule one update. Raising £2.5m at 97p. Expected mkt cap £62.6m vs revenues of £22.3m Walls & Futures REIT — Has raised £1m at £1 to acquire, refurbish or develop residential properties in the UK . Due to arrive on ISDX on 29 November Diversified Oil & Gas— Schedule One now out. $60m to be raised. Expected admission 6 December. Creo Medical Group —UK based medical device company focused on surgical endoscopy, a recent development in minimally invasive surgery. Admission due 7 December. Fundraising details TBA.
Long-term investment in Asian small caps
10 Nov 16
Scottish Oriental Smaller Companies Trust (SST) aims to generate long-term capital growth by investing in a portfolio of small-cap Asia ex-Japan equities. Vinay Agarwal is the interim lead fund manager while Wee-Li Hee is on maternity leave; he is assisted by Martin Lau, Scott McNab and the broader First State Stewart Asia team. Stocks are selected on a bottom-up basis, with a view to preserving capital on the downside as well as achieving capital growth. SST has significantly outperformed the peers and the MSCI AC Asia ex-Japan and MSCI AC Asia ex-Japan Small Cap indices over both five and 10 years.
Interims reveal value creation
28 Nov 16
In June Draper Esprit was listed on the LSE. Today its maiden interim results reveal substantial progress since IPO. In addition to strengthening the executive team with the appointment of Ben Wilkinson as CFO, Draper Esprit has created shareholder value through new investment and realisations.