John Laing Group (JLG): Grow, Optimise and Enhance

LONDON, UK / ACCESSWIRE / February 18, 2021 / CEO Ben Loomes set out his strategic vision for John Laing Group (JLG) at its capital markets day in November. He intends to accelerate growth by investing in ‘core-plus’ infrastructure while also enhancing operating and balance sheet efficiency. This note assesses the opportunity. Many of the initiatives will take time to fully realise, but the direction of travel is clear and activity levels look to be rising. The shares have recovered recently, but, at an FY20e P/NAV of 1.02x, the rating remains below its peers.

After staging a recovery over the last six months, JLG’s shares now trade at 1.02x our FY20e NAV per share, below both its historical average (1.07x) and that of its peers (1.16x). Recent newsflow has highlighted the strength of its existing PPP franchise and suggests that market activity levels are picking up. As renewable exposure falls and JLG begins to execute on its new strategy, we believe there is scope for NAV growth to accelerate and the re-rating to continue.

Click here to view the full report or here to sign up to receive research as it is published.

All reports published by Edison are available to download free of charge from its website

About Edison: Edison is a leading research and investor relations consultancy, connecting listed companies to the widest pool of global investors. By focusing on the volume and quality of investors reached – across institutions, family offices, wealth managers and retail investors – Edison can create and gauge intent to purchase, even in the darkest pools of capital, and then make introductions via non-deal roadshows, events or virtual meetings.

Having been the first in-market 17 years ago, Edison now has more than 100 analysts covering every economic sector. Headquartered in London, Edison also has offices in New York, Frankfurt, Amsterdam and Tel Aviv and a presence in Athens, Johannesburg and Sydney.

Edison is authorised and regulated by the Financial Conduct Authority.

Edison is not an adviser or broker-dealer and does not provide investment advice. Edison’s reports are not solicitations to buy or sell any securities.

For more information, please contact Edison:

Dan Gardiner, +44 (0)20 3077 5700,

Learn more at and connect with Edison on:

SOURCE: Edison Investment Research Limited

View source version on

error: Content is protected !!