EQUION IS THE JOHN LAING DIVISION SPECIALISING IN INVESTING IN AND MANAGING PROJECT COMPANIES ENTIRELY FOCUSSED ON THE PFI/PPP SERVICED ACCOMMODATION SECTOR. IT CURRENTLY MANAGES A PORTFOLIO OF 19 SIGNED PROJECTS AND HAS A SUBSTANTIAL BID PROGRAMME. IT IS SHORT-LISTED ON 11 PROJECTS AND IS PREFERRED BIDDER ON A FURTHER 13. EQUION’S KEY SECTORS INCLUDE: EDUCATION, HEALTH, DEFENCE, POLICE AND CRIMINAL JUSTICE AS WELL AS NEW MARKETS INCLUDING LIFT, SOCIAL HOUSING AND REGENERATION. IT WORKS CLOSELY WITH CLIENTS TO DEVELOP, FINANCE AND MANAGE NEW, REFURBISHED OR REGENERATED PUBLIC FACILITIES.
2003 Highlights
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PROFIT BEFORE TAXATION OF £10.5 MILLION (2002 –£7.8 MILLION)
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PORTFOLIO OF 19 SIGNED PROJECTS AS AT 22 MARCH 2004 (2002 – 10)
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EXCELLCARE (JOINT VENTURE WITH HALIFAX BANK OF SCOTLAND) REACHED FINANCIAL CLOSE (IN JANUARY 2004) ON THE FIRST OF THE 6 LIFT SCHEMES ON WHICH IT HAS BEEN AWARDED PREFERRED BIDDER STATUS
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REGENTER (JOINT PROJECT WITH UK PACIFIC INVESTMENT MANAGEMENT) FORMED TO TARGET OPPORTUNITIES IN SOCIAL HOUSING AND URBAN REGENERATION SECTORS, AND IS PREFERRED BIDDER ON TWO PROJECTS
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SIGNIFICANT PIPELINE OF 13 PREFERRED BIDDER PROJECTS AS AT 22 MARCH 2004 WITH A CAPITAL VALUE OF £1.8 BILLION
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METROPOLITAN POLICE FIREARMS & PUBLIC ORDER TRAINING FACILITY AND SOUTH EAST LONDON POLICE STATIONS REACHED CONSTRUCTION COMPLETION AND BECAME FULLY OPERATIONAL WITH THE FINAL POLICE STATION BEING COMPLETED IN JANUARY 2004
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REFINANCING OF THE NORFOLK & NORWICH HOSPITAL PROJECT GENERATING A CASH INFLOW OF £18.5 MILLION
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SECURED THE FIRST JOINT AUTHORITY SCHOOLS PROJECT WITH NEWHAM AND ENFIELD LOCAL AUTHORITIES
Financial Highlights
2003
£ million
2002
Restated*
£ million
Turnover
237.6
131.4
Profit before taxation
10.5
7.8
Net assets
261.4
161.0
* restated for changes in accounting policies, refer to note 1.
