JLEN : Everything on track at John Laing Environmental
John Laing Environmental Assets has published its first set of figures since it listed in March, covering the period up to the end of September 2014. They raised £160m and invested all of that into seven environmental infrastructure assets on nine sites. The initial net asset value after expenses was 98p, by the end of September it was 101.2p. They are planning to pay an interim dividend of 3p in December – in-line with their 6p target for the year as a whole.
The report says that power prices were a bit lower than they’d anticipated over the six month period and wind speeds were lower too, affecting the performance of their wind farms, but offsetting this the solar parks performed above expectations. The fire at their Frog Island waste facility didn’t have much of an impact on the numbers (as they said it wouldn’t at the time) as they shifted work to another site and managed to reopen part of the facility before the end of the period.