FC for Melbourne Metro imminent

John Laing has reported a strong year to date, as it prepares for financial close on the Melbourne Metro PPP deal before the end of the year.

The developer said its commitments to date amounted to £340m, instead of £200m as anticipated earlier this year.

Olivier Brousse, John Laing's CEO, said: "In 2017 we have continued to scale up our business: both our investment commitments and our realisations are well ahead of the guidance we gave earlier in the year, while we are managing our cost base and our risk profile.”

The firm recently announced that the increase in commitments was due to investments in an array of projects across the Asia Pacific, Europe and North America, such as the New Grafton Correctional Centre and the I-66 Outside the Beltway project.

Brousse added: “We are confident that the quality of our local teams, together with the strength of our partnerships with global infrastructure players, will continue to feed our pipeline of opportunities in 2018.”

John Laing also appointed Will Samuel to the board of directors with immediate effect.