John Laing Share Discussion Threads

[skinny] 12/12/2019 09:01

Peel Hunt Buy 356.80 440.00 Reiterates

[jonwig] 12/12/2019 08:09

Pre-close update;



Were the PPP and renewables warnings unexpected? Seems so. I guess they'll be diversifying out of these anyway. Forex no help.

[skinny] 02/12/2019 17:18

See post 542 :-)

[danielbird193] 02/12/2019 16:54

Big spike this afternoon, any idea what might have caused it?

[skinny] 02/12/2019 15:46

Having held for over 4 years, I've sold some of these today with a view to adding INL.

[jonwig] 29/10/2019 07:21

Colombia...
Political stability appears to be on an upward trend.
Making big investments in solar, wind and offshore O&G:



I was a bit concerned when they made the preliminary announcement on this project.

[skinny] 29/10/2019 07:03

.

John Laing Group ('John Laing'), the international active investor and partner behind responsible infrastructure, is pleased to announce that further to its announcement on 20 August 2019 regarding the agreed acquisition of 30% of the Ruta del Cacao road project in Colombia, all relevant approvals have now been obtained and the acquisition completed on 28 October 2019 for a total consideration of £62 million.

Separately, John Laing has invested £13 million for a 35% interest in the Hurontario Light Rail Transit ('LRT') PPP project in Canada, which recently reached financial close. Hurontario LRT consists of an 18km line connecting municipalities in the Greater Toronto and Hamilton Area and will improve connectivity within and between the two districts. The project builds on John Laing's successful history of investment and delivery of complex rail schemes, including the Denver Eagle commuter rail in USA and Sydney Light Rail in Australia.

Total investment commitments to date is therefore £157 million.

[jonwig] 05/9/2019 05:52

Edison research note dated 4 Sept:



I must admit I was puzzled that they said there was not enough wind (in Europe). The answer is that British offshore wind farms are pinching it before in reaches mainland Europe.
Brexiteers will love that idea.

[skinny] 23/8/2019 11:50

Peel Hunt Buy 354.40 440.00 Reiterates

[chc15] 22/8/2019 11:29

Fair enough, it's not exactly 3IN then..may top up,but holding for now.

[blobby] 22/8/2019 11:04

I'm not happy with the results so I've sold out. I'm happy to keep them on my watch list though.

[riverman77] 22/8/2019 10:11

CHC15 - I know JLG is regarded as being a very stable company, but I don't really see it that way. With big infrastructure projects there is always a risk that things go wrong. You also have political risks, especially now they are present in so many different countries.

I sold out a few months ago when it hit a 20% premium - I thought it was looking at bit rich at that point.

On the positive side, they seem to be backing away from renewables which is the source of the recent issues. I'll look to buy back in if its gets closer to NAV, say 330-335

[danielbird193] 22/8/2019 09:11

Could fall further but once it finds support this is definitely a top-up opportunity. I sold about 3/4 of my holding at 388p back in May and fully anticipate a re-rating up to those levels when the full year results are announced.

[skinny] 22/8/2019 08:24

CEO statement, final sentence :-

"We remain confident in delivering our full year expectations, underpinned by the value inherent in our existing portfolio and further penetration of our targeted markets."

And FWIW :- Peel Hunt Buy 348.60 451.00 440.00 Reiterates

(down from 450p yesterday!)

[chc15] 22/8/2019 08:15

True, but with this type of Co, u expect a bit more stability..

[jonwig] 22/8/2019 07:52

They've had 'problem areas' before: Manchester Waste, Royal Adelaide Hospital. European Wind seems to be simply a matter of not enough of the stuff. I think these ups and downs come with the territory.

[chc15] 22/8/2019 07:50

Mkt doesn't like it, maybe chance to top up or sell?

[jonwig] 22/8/2019 06:14

H1 results:



Include writedowns in Aus and Eur renewables, totalling £121m.

[danielbird193] 02/7/2019 07:32

Nice IC tip and the price continues to flirt with 400p. A decisive break through 4 quid could be extremely positive for sentiment here, I'll be keeping a close eye on this over the coming days.

[jonwig] 01/7/2019 17:49

IC tip update:

John Laing (JLG) faced operational performance issues in Europe over its first half, largely driven by a low level of wind activity on some legacy assets in Germany and Ireland.

The infrastructure projects specialist also encountered issues in Australia, where it experienced transmission issues relating to ‘marginal loss factors’, which are defined as the portion of energy lost when electricity is transmitted across the transmission and distribution networks, owing to resistance. Europe and Australia counted for 18.5 per cent of John Laing’s investment portfolio as of 31 December 2018.

IC View
John Laing has been reshaping its geographic focus, with a reduction in exposure to European investments as they mature. As a result, the UK now makes up just 24 per cent of the portfolio, down from 58 per cent in 2014. So its Australian problems are more pressing, although John Laing claims that its issues here were “in line with industry peers”. We retain our rating for now. Buy at 393p.

[jonwig] 28/6/2019 06:12

Pre-close update:



Overall HY performance will be in-line, with some minor downward adjustments for some renewables projects. Results 22 August.

[yf23_1] 19/6/2019 15:01

Nice move up in a tired looking market.