John Laing Group (JLG) stands at a c 6% premium to its FY19 NAV of 337p per share compared to peer-group NAV premiums of over 10%. This appears modest for a business that, since its 2015 IPO, has delivered 14% compound annual growth in NAV per share (including dividends paid), which we expect to continue to grow at c 10% pa (including dividends). Successful disposal of its renewable assets could be a catalyst for share price appreciation.
John Laing Group - NAV growth despite challenges
- Published:
05 Mar 2020 -
Author:
Graeme Moyse -
Pages:
3
John Laing Group (JLG) stands at a c 6% premium to its FY19 NAV of 337p per share compared to peer-group NAV premiums of over 10%. This appears modest for a business that, since its 2015 IPO, has delivered 14% compound annual growth in NAV per share (including dividends paid), which we expect to continue to grow at c 10% pa (including dividends). Successful disposal of its renewable assets could be a catalyst for share price appreciation.