We expect a stronger H219 from John Laing Group (JLG) after a mixed performance in H1, when NAV growth was restrained by asset write downs. Although we have reduced our FY19 estimate for NAV per share to 353p (+9% year-on-year), we believe the long-term outlook for the business remains favourable given the global requirement for infrastructure investment. JLG’s shares now stand at a small discount to peer group averages, offering an attractive entry point for potential investors.
John Laing Group - More growth expected in H219
- Published:
04 Sep 2019 -
Author:
Graeme Moyse -
Pages:
14
We expect a stronger H219 from John Laing Group (JLG) after a mixed performance in H1, when NAV growth was restrained by asset write downs. Although we have reduced our FY19 estimate for NAV per share to 353p (+9% year-on-year), we believe the long-term outlook for the business remains favourable given the global requirement for infrastructure investment. JLG’s shares now stand at a small discount to peer group averages, offering an attractive entry point for potential investors.