John Laing Infrastructure Share Discussion Threads

[jonwig] 29/3/2018 12:33

@ bothdavis - I think the Labour threats are discounted in the price now. More likely precarious state of some outsourcers (but see post #379), and the fact that it's hard to raise new equity at a discount to NAV.

[bothdavis] 29/3/2018 09:15

Down nearly 10%....bloody Labour!!

What to do, if Labour get in!!!!!!!!!!!!!

Sell now and reinvest or hope May does well?

[jonwig] 29/3/2018 06:53

Includes some broker comment:

[jonwig] 26/3/2018 20:44

Ram - thanks for the links.

Fascinating stuff on AR p18: their construction partners and facilities managers.
Take out Carillion and there don't seem to be any other "red flag" names.

[rambutan2] 24/3/2018 21:07

Good overview:



And the long read version:

[spectoacc] 23/3/2018 08:27

To, or from?

NAV looks healthy, been happy to hold this one.

[jonwig] 23/3/2018 08:23

FY results:



Looks pretty sound, with asset performance ahead of the discount unwind, an no material impact arising from the Carillion bust.

Plan to move domicile to UK. I doubt this will mean more tax, but it will mean they avoid becoming an ill-informed political football.

[spectoacc] 13/3/2018 14:31

Not seen any news on them recently?

[nimbo1] 13/3/2018 14:27

they are certainly doing a good job of destroying share holder value here.

[mister md] 06/2/2018 15:45

:-) Thanks, I'll use JLIF as a forward-looking indicator then !

[jonwig] 06/2/2018 15:16

@ Mister MD - always helps to get your panic in early!

[mister md] 06/2/2018 15:09

impressive it hasnt dropped during the global crash (so far)

[winsome] 29/1/2018 08:14

Sigh of relief!

[jonwig] 29/1/2018 07:12

'No material impact' on company following liquidation of Carillion. £3m transition costs only.

A big contrast to HICL's potential £50m. This ought to bounce back now ... ?

[skinny] 29/1/2018 07:09

John Laing Infrastructure Fund Limited ('JLIF' or the 'Company'), the listed infrastructure investment company, notes recent commentary regarding the impact of the liquidation of Carillion plc ("Carillion").

JLIF refers to its announcement made on 16 January 2018 in respect of the compulsory liquidation of Carillion. John Laing Capital Management Ltd, the Company's Investment Adviser, continues to work on implementing its contingency plans to replace Carillion as Facilities Management ("FM") provider on the 9 JLIF projects and expects this to occur on similar terms to the existing contracts within the projects. The Investment Adviser anticipates that there will be minimal service disruption, however initially expects additional advisory and transaction costs in respect of the appointment of replacement facilities managers to cost approximately £3 million in aggregate.

JLIF reiterates that it has no projects currently in construction where Carillion is the contractor. JLIF owns one project where Carillion is still liable for any construction defects found on the project, with the construction period having completed over 10 years ago. JLIF reiterates that a recently completed routine defects survey has not highlighted any significant areas of concern.

The Investment Adviser believes that the compulsory liquidation of Carillion should have no material impact on the Company and no impact on the Company's dividend policy. The Company will continue to manage the situation as it develops and provide further updates as appropriate.

[mach100] 26/1/2018 12:34

I would hope that JLIF don't warn as it would contradict their earlier statement which pointed to little -or no impact as it seems al partnerships- as I read it. I exited at 117.45 having wanted to sell last Friday at 119p. I don't think these are bad investments and the yield is good and improving but there is too much noise around these and therefore best avoided for now.

[winsome] 26/1/2018 07:20

There seems to be little support for bringing PFI projects back in house. The reason Carillion went under was their extremely tight profit margins on projects. Something like 2%. So they were hardly milking the taxpayer. Likewise for companies like HICL and JLIF - they are hardly making huge profits.

I see HICL warned this morning they will take a 2% hit on their NAV. JLIF may do similar. Barely significant IMO. As long as the divs keep coming then these remain long term holds for me.

[bothdavis] 25/1/2018 10:31

I am down 6% so far, the 'Corbyn effect' is getting on my nerves - hopefully will see a turnaround if and w hen people realise his methodology will lead to financial ruin and a even more fractured society.

[pjw956] 18/1/2018 22:30

jlen appears slightly safer than jlif at present for income seekers, very similar income levels.

[grahamburn] 18/1/2018 17:37

More likely from the general negative publicity for PFI contracts today following the NAO report.

[swedeee] 18/1/2018 17:16

is this fall from the carillion fallout?

[jonwig] 16/1/2018 06:33

Two useful articles, I think:

[jonwig] 23/11/2017 05:44

Useful article on both HICL and JLIF:

[essential] 22/11/2017 09:41

Bought into these yesterday - fallen a long way very fast and to get them around NAV was an opportunity not to be missed

[jonwig] 16/11/2017 14:05

Interesting political angle: