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Monday, 2 September, 2002, 11:52 GMT 12:52 UK
Laing builds way back to profit
News in Brief
The property company, John Laing, has posted better-than-expected results as it returned to profit in the first half of the year.

The company said it believed house prices would remain stable for the rest of the year, and that its strong forward sales position will ensure solid progress.

Laing, founded in 1840, also said it was interested in bidding for government-backed infrastructure projects.

The government's private finance initiative (PFI) allows private companies to design, construct and then operate a public asset or service.

An example of this is the Chiltern Railways franchise which Laing won in the first half of the year.

Chairman Bill Forrester said: "If you get it right, given the long-term underwriting by the government, (infrastructure development) is a very attractive business".

In the six months to 30 June, Laing reported pre-tax profits of 13.5m, compared to a loss of 49.7m in the same period last year.

See also:

08 Aug 02 | Wales
29 Jul 02 | Business
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