London, UK, 31 August 2017

Edison issues outlook on John Laing Group (JLG)

John Laing Group (JLG) has an established and impressive track record of growth and is well paced to benefit from the strong market that exists for global infrastructure and renewable energy investment. We believe it can deliver a CAGR of 11.1% in NAV per share and 5.2% in DPS in 2016-21e. The combination of NAV per share and DPS growth should continue to provide attractive returns for shareholders and further close the valuation gap to its peers.

Over the last year JLG has successfully closed the significant discount to NAV that existed previously. The company now trades at a small premium to its last reported NAV (284p/share), but at a discount to other infrastructure investment groups, which trade at a c 14% premium to NAV currently. We believe that our forecasts for NAV and DPS growth will provide attractive total returns for shareholders and help close the valuation gap to its peers.

Click here to view the full report.

All reports published by Edison are available to download free of charge from its website
www.edisoninvestmentresearch.com

About Edison: Edison is an investment research and advisory company, with offices in North America, Europe, the Middle East and AsiaPac. The heart of Edison is our world-renowned equity research platform and deep multi-sector expertise. At Edison Investment Research, our research is widely read by international investors, advisers and stakeholders. Edison Advisors leverages our core research platform to provide differentiated services including investor relations and strategic consulting.

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:

Graeme Moyse, +44 (0)20 3077 5700

Roger Johnston, +44 (0)20 3077 5722

industrials@edisongroup.com

Learn more at www.edisongroup.com and connect with Edison on:

LinkedIn https://www.linkedin.com/company/edison-investment-research

Twitter www.twitter.com/Edison_Inv_Res

YouTube www.youtube.com/edisonitv