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JOHN LAING plc
ANNUAL REPORT AND ACCOUNTS 2005
 
       
  • introduction• our achievements in 2005  
 
  our achievements in 2005…  
 
  FINANCIAL HIGHLIGHTS   BUSINESS HIGHLIGHTS  
         
 
    31 December
2005
£ million		  

31 December
2004
£ million
Profit before taxation – continuing 35.8   25.0
Net funds/(borrowings) – recourse 108.6   42.7
  – non-recourse (1,396.3)   (1,368.6)
Earnings per share – continuing 9.9p   8.2p†
  – total 9.1p   6.8p†
Dividends per share – interim paid 1.2p   1.1p
  – final proposed 2.45p   2.2p
Portfolio valuation   330.1   301.2
Growth in valuation – absolute 10%   20%
  – rebased 20%   18%
† recalculated for the impact of the rights issue
 
 
VALUATION GROWTH
 
> WE REMAIN COMMITTED TO A STRATEGY OF DELIVERING SUSTAINABLE PROJECT EARNINGS TOGETHER WITH CONTINUING GROWTH IN THE VALUE OF INFRASTRUCTURE ASSETS
   
> INCREASED GROUP PROFIT BEFORE TAX OF £35.8 MILLION (2004 – £25.0 MILLION AS RESTATED FOR IFRS)
   
> SUCCESSFUL RIGHTS ISSUE IN JULY RAISED £95.5 MILLION AFTER COSTS TO SUPPORT FUTURE GROWTH
   
> DISPOSAL OF A 50% INTEREST IN THREE OPERATIONAL POLICE SECTOR ASSETS FOR PROFIT OF £13.0 MILLION
   
> DISPOSAL OF JOHN LAING’S 50% INTEREST IN THE JOINT SERVICES COMMAND AND STAFF COLLEGE FOR A PROFIT OF £7.9 MILLION
 
> PORTFOLIO OF 48 LONG-TERM CONCESSIONS AT 31 DECEMBER 2005 (2004 – 42) WITH 27 FULLY OPERATIONAL
 
> 20% GROWTH IN PORTFOLIO VALUATION TO £330.1 MILLION OVER THE DECEMBER 2004 VALUATION, AFTER INTERVENING TRANSACTIONS ARE TAKEN INTO ACCOUNT
 
         
 
> 44,500 pupils attended our schools
   
> we invested in more than 430 km of road in Europe
   
> 17.7 million passenger journeys were made on our railway services
   
> in excess of 567,000 people used our hospitals
   
> we operated 26 police stations and 2 police training centres with another 6 stations under construction
   
> we installed 15,713 street-lights
   
 
  AND WE ARE RESPONDING TO FURTHER OPPORTUNITIES…  
 
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